China's foreign exchange reserves, the world's largest, surged to US$2.65 trillion at the end of last month, adding fuel to complaints that the nation's curbs on gains in the Yuan are undermining the global recovery.
World stocks jumped to a six-month high, gold hit another record, and the dollar weakened on Wednesday on expectations that the US Federal Reserve will further loosen monetary policy, boosting risk appetite.
United States farm exports may surpass a 2008 record of 115.3 billion US dollars on surging corn, soybean and wheat prices, according to Joe Glauber, the US Department of Agriculture’s chief economist.
Brazilian Finance Minister Guido Mantega insisted while in Washington on the need of the international community to coordinate and reach some kind of agreement during the next G20 summit in order to put an end to the currency war that puts world recovery in danger.
The UK economy slowed considerably in the three months to the end of September but is not set to fall back into recession, according to the latest British Chambers of Commerce’s Quarterly Economic Survey.
China posted a 16.9 billion US dollars trade surplus for September, the largest quarterly surplus since the financial crisis in 2008. Exports rose 25.1% from a year earlier and imports climbed 24.1%, the customs bureau said on its website today.
As many as 45.5 million people were without job in August in the Organisation for Economic Cooperation and Development (OECD) region, reflecting sluggish labour market conditions in mostly developed nations.
The White House has ruled out a temporary ban on the repossession of homes, despite a growing row over alleged malpractice. Some US banks have already imposed their own moratorium on foreclosures while they investigate possible legal flaws in the eviction process.
The Japanese cabinet has approved a plan to pump more than 60 billion US dollars into the country's struggling economy. The aim of the plan - which still needs approval from parliament - is to boost growth, jobs and spending.
Brazil's economy will likely be larger than that of Italy next year, according to the latest data from the International Monetary Fund (IMF).