Consumer prices in China during February were up 2.7% from a year ago, against January's rate of 2.2%, the National Bureau of Statistics said Tuesday.
The Organization for Economic Cooperation and Development does not anticipate a recession in the United States but called on the world's three main central banks, --US, European Union and Japan-- not to raise the cost of borrowing..
The Shanghai Stock Exchange (SSE) has proposed raising the maximum share price fluctuation for listed companies from 10 to 20% per day. The move is part of a package of proposals for changing trading mechanisms based on a study jointly conducted by SSE and Guotai Junan Securities Co. Ltd reports China's Xinhua agency.
China will pursue gradual reform in the foreign exchange market this year and will aim to keep the currency basically stable, the People's Bank of China said on Monday. The central bank also said that while it was willing to accelerate financial reforms it needed more time to reduce its trade surplus.
United States is prepared to reduce agricultural subsidies but wants to ensure market access for goods and services, President George W. Bush said on Saturday in Uruguay, the second leg of his five countries tour of Latin America.
The head of the United Nations Environment Programme, UNEP, has applauded the findings of a new study that calls for a parallel push to fight climate change and also to decrease chemicals harming the ozone layer which shields the Earth from harmful ultraviolet light.
Stock markets in Europe and much of Asia extended a rally overnight after a week of losses in global equities but Wall Street faltered as investors pulled back. European markets steamed ahead following on Asia's rebound although Tokyo and Hong Kong turned lower.
The European Central Bank raised its key interest rate 25 points to 3.75% in an attempt to keep inflation under control and in the United Kingdom the Bank of England left rates unchanged at 5.25%.
Former Federal Reserve Chairman Alan Greenspan said there's a one-third probability of a recession this year in United States and that the current expansion won't have the staying power of its decade-long predecessor.
United States Treasury Secretary Henry Paulson in the middle of an Asian tour and currently in South Korea expressed confidence in the global economy describing it as strong and characterized by low inflation.