India's Finance Minister Arun Jaitley on Saturday announced a budget aimed at high growth, saying the pace of cutting the fiscal deficit would slow as he seeks to boost investment and ensure that ordinary people benefit.
inflation
U.S. economic growth braked more sharply than initially thought in the fourth quarter amid a moderate increase in business inventories and a wider trade deficit, but strong domestic demand brightened the outlook.
The Federal Reserve should make a change to its policy statement next month that would allow it to monitor inflation readings through the spring and then hike interest rates some time in the summer, a top Fed official said on Thursday.
The Federal Reserve is preparing to consider interest rate hikes "on a meeting-by-meeting basis," Fed Chair Janet Yellen told a congressional committee on Tuesday, a subtle shift of emphasis that helps lay the groundwork for the Fed's first rate hike since 2006.
Three members of the Bank of Japan's policy board expressed doubts the central bank can meet its inflation target because of a slowdown in underlying prices and falling oil, pointing to chinks in the BOJ's strategy to spark sustainable growth.
Verbal missteps by the U.S. Federal Reserve have increased the risk of a volatile market reaction when the time comes to raise interest rates, the outgoing president of the Philadelphia Fed said in an interview on Friday.
The U.S. dollar was nursing losses in Asia on Thursday while bonds held hefty gains as investors scaled back expectations on how fast, and how far, the Federal Reserve might raise interest rates in coming months and years.
Federal Reserve policymakers expressed concern last month that raising interest rates too soon could pour cold water on the U.S. economic recovery, and fretted over the impact of dropping "patient" from the central bank's rate guidance.
The Bank of Japan maintained its massive asset buying stimulus spree on Wednesday and revised up its view on exports and output, even as data showing only a feeble recovery from recession tempers its optimism.
McDonald's Corp. (MCD.N) will open fewer new restaurants in Russia this year than last because a fall in the rouble has increased expansion costs and is hurting consumers, its Russian chief executive Khamzat Khasbulatov told Reuters.
Russia's central bank unexpectedly cut its main interest rate on Friday as fears of recession mount in the country following the fall in global oil prices and Western sanctions over the Ukraine crisis.
U.S. economic growth slowed sharply in the fourth quarter as weak business spending and a wider trade deficit offset the fastest pace of consumer spending since 2006.
The Bank of Japan has put monetary policy on hold and found backing for its wait-and-see stance from advisors to Prime Minister Shinzo Abe, who worry more easing could send the yen to damagingly low levels, according to officials in the administration and central bank.
Bundesbank President Jens Weidmann said Greece, where an anti-bailout party looks set to win a snap election, would continue to need aid and would only get this by sticking to agreements, adding he hoped the new government would not make promises the country could not afford.
Venezuela's deepening economic troubles, and in particular the weakness of the bolivar and restrictive currency controls, have hurt U.S. corporate profits for the fourth quarter of 2014 and are set to inflict further pain this year.
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