Economic News September 18, 2012
European Central Bank Governing Council member Luc Coene said on Monday that the central bank has a number of options to ease policy, including cutting deposit rate below zero and offering more cheap loans to banks. (Sep 18, 2012) Full Article
The Swiss federal government's expert group on Tuesday downgraded its economic outlook citing weak global conditions. Nonetheless, the group does not foresee a marked recession in Switzerland thanks to the robust domestic economy and the floor currency exchange rate. (Sep 18, 2012) Full Article
The transmission of monetary policy is still very effective in Australia and there has been ample scope to lower the cash rate sufficiently, Reserve Bank of Australia Assistant Governor Guy Debelle said Tuesday. (Sep 18, 2012) Full Article
India's consumer price inflation accelerated in August, after the central bank retained its policy rate citing inflation fears. (Sep 18, 2012) Full Article
Registrations of new passenger cars in Europe dropped at a faster rate in August, data released by the European Automobile Manufacturers' Association (ACEA) showed Tuesday. New passenger car registrations in the EU 27 nations excluding Malta fell 8.9 percent year-on-year, following a 7.8 percent in July, the Brussels-based ACEA said. Sales dropped for the third consecutive month, after stabilizing in May. The latest decline was the most severe since February, when sales slumped 9.7 percent. (Sep 18, 2012) Full Article
The European Central Bank will assume the role of a banking supervisor only if it is fully equipped, ECB Governing Council member Ewald Nowotny reportedly said Monday. (Sep 18, 2012) Full Article
Forex Top Story
Members of the Reserve Bank of Australia's monetary policy committee felt that the Australian economy was growing at trend, minutes from the board's September 5 meeting revealed on Tuesday. (Sep 18, 2012) Full Article
Property prices in China increased for a third straight month in August compared to the previous month, as the central bank's recent policy easing boosted demand for homes, the latest figures released by the National Bureau of Statistics showed Tuesday. (Sep 18, 2012) Full Article
After the European Central Bank and the Federal Reserve, it is now the turn of the Bank of Japan to prop up the faltering domestic economic recovery as tepid global growth and the European squabble over fixing the debt crisis make the country's export prospects more bleak. (Sep 18, 2012) Full Article
U.K. inflation slowed marginally in August despite an increase in fuel prices, which may provide room for more monetary policy easing. Nonetheless, inflation remains above the 2 percent target. (Sep 18, 2012) Full Article
German economic sentiment improved in September after easing for four straight months as the European Central Bank's bond purchase plan calmed analysts' fears of a looming break-up of the region, results of a closely watched survey revealed Tuesday. (Sep 18, 2012) Full Article
Spain's borrowing costs declined on Tuesday in the first debt auction since the European Central Bank announced plans to buy peripheral bonds earlier this month. Despite the favorable auction results, Spanish bond yields remain high, given the lingering uncertainty as to whether the country would seek a bailout, paving way for the ECB to keep the Spanish yields lower by buying the country's bonds. (Sep 18, 2012) Full Article
Political News
U.S. Defense Secretary Leon E. Panetta has warned that further defense cuts threatened by sequestration would "throw the U.S. defense strategy out the window." (Sep 18, 2012) Full Article
China has notified the World Trade Organization (WTO) Secretariat of a request for consultations with the United States on countervailing and anti-dumping measures applied to a wide range of products exported by China to the U.S. (Sep 18, 2012) Full Article
Japan said on Tuesday that it would continue to monitor waters around the disputed Senkaku Islands in the East China Sea to keep Chinese vessels away. (Sep 18, 2012) Full Article
In a move that could help resolve the standoff between Pakistan's executive and the judiciary, the government responded favorably to the Supreme Court's directive to Prime Minister Raja Pervez Ashraf to write to the Swiss authorities seeking reopening of the money laundering cases against President Asif Ali Zardari. (Sep 18, 2012) Full Article
Republican presidential candidate Mitt Romney defended remarks he made earlier this year at a private fundraiser criticizing supporters of President Obama as people who don't assume personal responsibility or pay income taxes. (Sep 18, 2012) Full Article
Currency Alerts
During the early Asian session on Tuesday, the Australian dollar slipped against most major currencies following the release of Reserve Bank of Australia's minutes of its September 4 meeting. (Sep 18, 2012) Full Article
The euro edged lower against its major rivals in early deals Tuesday (Sep 18, 2012) Full Article
The pound recouped some of its previous session's losses against other major currencies in early deals Tuesday (Sep 18, 2012) Full Article
General News
The International Atomic Energy Agency (IAEA) and the World Association of Nuclear Operators (WANO) have signed a new Memorandum of Understanding (MoU) for increased cooperation between the two organizations following the Fukushima nuclear accident of March 2011. (Sep 18, 2012) Full Article
A dozen people, including eight foreigners, were killed in a suicide bomb attack on a minibus carrying foreigners near the Afghan capital Kabul on Tuesday, reports said. (Sep 18, 2012) Full Article
The Japanese government on Tuesday made it clear that its new energy policy banning new nuclear plants would not be applicable to plants already under construction. (Sep 18, 2012) Full Article
More Japanese companies suspended operations in China as anti-Japan protests over Tokyo's nationalization of a cluster of disputed Islands in the East China Sea claimed by Beijing intensified on Tuesday. (Sep 18, 2012) Full Article
Afghan and coalition security force arrested one of the Taliban leaders behind Friday's Camp Bastion attack that killed two NATO soldiers. (Sep 18, 2012) Full Article
The NATO-led International Security Assistance Force (ISAF) has come out with clarification over reports that coalition troops in Afghanistan have been told to halt some joint operations with their Afghan counterparts in the wake of increasing "insider attacks" on American and NATO troops by their local allies. (Sep 18, 2012) Full Article
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