VENTURE CAPITAL POST

The UK government and Office for National Statistics (ONS) have decided to enhance data quality. Taking central bank Governor Charlie Bean's suggestions into consideration, the British government has earmarked GBP 17 million ($24 million) investment for creating new centers of excellence.

Global stocks rose further as increased investor confidence propelled buying support. Investor confidence has been strengthened after the announcement of European Central Bank's stimulus plans and encouraging US economic data.

Sterling scaled a six-week peak early on Monday following recent hawkish-sounding comments from the Bank of England, while the other major currencies were subdued in a holiday-riddled week.

The global economy will gradually improve over the next two years but Japan will grow less than previously expected while the euro zone struggles with stagnation and an increased deflation risk, the OECD said on Tuesday.

The central banks are finding it difficult to boost growth by increasing domestic demand and hence the need to depend upon foreign demand. The progressive rate cuts and monetary easing measures have led to massive falls in these currencies thereby helping these countries to increase exports.

The positive news on German and French GDP have calmed the fears over stagnating Eurozone economy. the International Monetary Fund said that growth performance is in line with projections in the United States and China. BoE Governor Carney lowered growth and inflation forecasts for UK. Japan's GDP data will be a very crucial factor in Prime Minister Abe’s decision on whether or not to increase the consumption tax from 8 percent to 10 percent.

Next week the RBNZ is going to release its financial stability report and on Tuesday Governor Graeme Wheeler is scheduled to speak. BOE quarterly inflation report & US unemployment claims, retail sales and consumer sentiment are to be released in the upcoming week.