The Federal Reserve has decided to keep US interest rates on hold at between 0% and 0.25%, --as had been widely expected--, and anticipated that most of the special liquidity facilities will expire on February 1, 2010.
Youth unemployment in the United Kingdom has reached a record high as the jobless total nudged 2.5 million, the worst total since the mid-1990s. The number of 16 to 24-year-olds out of work was 952,000 in the three months to October, a quarterly rise of 6,000 and the highest figure since records began in 1992.
Sovereign debt risk is rising globally, particularly in the United States and United Kingdom, which must outline plans to manage public debt or face ratings deterioration as soon as 2011, Moody's global head of sovereign ratings said this week.
Spain tops a new misery index that combines unemployment rates with budget deficits, according to forecasts from Moody’s Investors Service. Ireland appears in fourth place on the sovereign-risk outlook for 2010, behind Spain, Latvia and Lithuania.
British Defence Secretary Bob Ainsworth announced Tuesday a package of cutbacks in core defence programmes to fund £900 million of new equipment for troops in Afghanistan over the next three years.
Higher petrol prices in the United Kingdom pushed inflation upward for the second month in a row in November, official figures have revealed. The Consumer Prices Index (CPI) rose to 1.9% last month from 1.5% in October, said the Office for National Statistics (ONS).
Poland's adoption of the Euro in 2015 is very realistic and more likely than in 2014, but it isn't a target date, Deputy Finance Minister Ludwik Kotecki told reporters.
A soy bean bumper crop in South America in early 2010 will ease world reserves of grains, currently at very low levels, and will also have an impact on international prices according to Oil World.
Rio Tinto Alcan, a unit of global mining giant Rio Tinto said on Monday it could invest up to 2.5 billion US dollars in a potential aluminium smelter in Paraguay. Rio Tinto Alcan said it had begun negotiations on a possible power purchase agreement for the potential smelter.
Mexico’s credit rating was cut one level by Standard & Poor’s after tumbling oil output and the worst recession since the 1930s swelled the budget deficit.