News Tag: stimulus package
March 2, 2010
As widely expected, the Reserve Bank of Australia (RBA) has raised interest rates from 3.75% to 4%.
The RBA has increased interest rates four times since October and many analysts believe interest rates could hit 4.25% in the short-term.
Australia is one of the few developed economies not to have fallen into recession like its counterparts throughout the world.
The economy only ...
Australia raises interest rates to 4%
by Kay Murchie
February 18, 2010
In its latest forecast for the world’s largest economy, the US central bank, the Federal Reserve, has said economic growth will be between 2.8% and 3.5% in 2010 - better than its previous forecast of 2.5% to 3.5%.
However, the Fed has warned that despite strong growth for this year, unemployment will remain high.
Earlier this month, the Labor Department said the US ...
Fed warns of higher unemployment
by Kay Murchie
December 21, 2009
Minister of Industry and Information Technology Li Yizhong said China’s Government is targeting economic growth of around 8% in 2010.
In a bid to boost China’s economy, which is the world’s third largest, the Government embarked on a massive stimulus package of infrastructure projects to create jobs.
The stimulus package appears to have been successful after the economy continues ...
Analysts say China’s growth target of 8% can be achieved
by Kay Murchie
December 8, 2009
In order to prevent the world’s second largest economy falling back into recession, Japan’s Government is to pump a further 7.2 trillion yen ($81 billion; £48 billion) into the economy.
Japan’s economy emerged from recession in the second quarter of 2009 and also experienced positive growth in the third quarter. However, there have been fears that the return of deflation could ...
Japan injects further 7.2tn yen into economy
by Kay Murchie
November 20, 2009
Jean-Claude Trichet, President of the European Central Bank (ECB), has said liquidity measures will be scaled back in order to ensure it doesn’t fuel inflation.
Currently the inflation rate within the 16 nations that use the euro is 0.5% but at the start of the summer, inflation turned negative for the first time, declining to -0.1% as a result of falling energy ...
ECB to gradually withdraw stimulus measures
by Kay Murchie
November 11, 2009
There is more good news for the world’s third largest economy today after China's National Bureau of Statistics revealed a surge in industrial output.
Industrial output rose to a 19-month high of 16.1% in October compared with a year earlier, exceeding market forecasts of 15.5%.
Last month, official figures revealed that Chinese GDP growth surged to 8.9% in the July to September ...
Chinese industrial output surges to 19-month high
by Kay Murchie
November 9, 2009
A meeting of G20 finance ministers at St Andrews in Fife saw an agreement to maintain financial support until recovery is ensured.
The agreement was reached following concerns over rising unemployment and unsteady growth which saw finance ministers from developing and rich countries vow to keep fiscal measures in place until global recovery is assured.
The International Monetary Fund (IMF) also believes ...
G20: Recovery dependent on policy support
by Kay Murchie
October 29, 2009
Official figures today have revealed that the US economy expanded at an annualised rate of 3.5% between the July and September period, suggesting that the economy has exited its worst recession in 70 years.
The figures have come as no surprise after many economists had expected that the economy would experience positive growth in the third quarter.
The growth pace in GDP ...
World’s largest economy sees third quarter growth
by Kay Murchie
Has the world’s largest economy exited recession?
by Kay Murchie
October 22, 2009
Official figures show that Chinese GDP growth surged to 8.9% in the July to September period, up from 7.9% in the April to June period.
The strong result was due to all sectors performing strongly and was the fastest GDP growth since quarter three last year.
Many analysts have described China's recovery as “impressive”.
In the nine months to September, the Chinese economy expanded ...
Chinese Q3 GDP growth soars
by Kay Murchie
October 8, 2009
The Congressional Budget Office (CBO) yesterday announced that the US budget deficit could hit a record $1.4 trillion (£877 billion) in the fiscal year to 30 September 2009.
The previous record deficit was $459 billion - set last year.
The CBO said the forecast federal deficit for the 2009 fiscal year was the highest shortfall since the aftermath ...
US budget deficit to hit record level of $1.4tn
by Kay Murchie
August 25, 2009
The White House and Congress have both warned that the US Government budget deficit will surge to almost $1.6 trillion (£978 billion) this year - the highest level ever recorded.
Furthermore, the White House is forecasting that the deficit will grow to $9 trillion over the next decade - a rise of $2 trillion from its previous estimate.
The rise has been driven ...
US national debt to hit $1.6tn
by Kay Murchie
August 13, 2009
The US Federal Reserve has yet again unanimously kept interest rates on hold at between 0% and 0.25% - as widely expected.
The US Central Bank said that the current low levels of interest rates will likely continue "for an extended period" to aid the continuing recovery of the world‘s largest economy.
The Fed also talked of ...
US Fed holds interest rates and is optimistic for the future
by Kay Murchie
July 9, 2009
The International Monetary Fund recently singled Australia out as the strongest performing economy in the developed world but it seems the economy is not immune from rising unemployment.
While the increase in unemployment for the month of June was less than expected, the rate has still hit a six-year high of 5.8% in June, rising from 5.7% the previous month, ...
Australia’s unemployment rate hits six-year high of 5.8%
by Kay Murchie
April 23, 2009
In April, business morale in France increased following record lows in previous months and this has increased the speculation that the worst of the recession is seemingly over.
The French national statistics office announced today that its business confidence index increased to 71 points in April, three points higher than in March and two points higher than economists’ predictions.
Having been ...
French manufacturers and business confidence increases in April
by Peter Charalambous
April 6, 2009
The latest figures from the Institute for Fiscal Studies (IFS) shows that the UK will need to raise an extra £39 billion a year for the next five years if the Government is going to balance the books by 2015.
This would mean that if the money was to be raised solely through an increase in taxation then the average household ...
UK public sector debt at record levels
by Peter Charalambous
Japan announces further stimulus package to tackle recession
by Kay Murchie
April 1, 2009
The latest Bank of Japan's quarterly Tankan survey has revealed that business confidence among major manufacturers in Japan has hit the lowest level ever.
The survey of 10,000 companies, which is seen as a key indicator of the health of the country's economy, revealed that confidence has plummeted to a 35-year low.
The world’s second ...
Japan’s economy hit by more bad news as business sentiment at record low
by Kay Murchie
March 31, 2009
A trend of Australians not taking their full annual leave has worsened following the onset of the economic downturn and, as a result, has collectively accrued 123 million days leave which amounts to AUS$33 billion in wages.
The Tourism Minister, Martin Ferguson, has revealed that he is currently considering spending the $900 stimulus payment in order to encourage breaks.
The Tourism Australia ...
Australians have stockpiled 123 million days leave
by Peter Charalambous
March 6, 2009
Official figures from the US Labor Department revealed today that 651,000 jobs were lost in February in the US, taking the jobless rate 8.1% - the highest level since December 1983.
Meanwhile, the organisation adjusted its January figures upwards to 655,000, while December’s losses were revised to 681,000 - the biggest single monthly decline since October 1949.
A total ...
US Labor Department reveals worse than expected jobless figures
by Kay Murchie
