By Sumeet Desai
ST ANDREWS, Scotland, Nov 6 (Reuters) – The Group of 20 leading nations will agree this weekend it is too early to pull the plug on emergency support for the global economy and launch a new system of checks to help rebalance world growth and prevent future crises.
G20 ministers to keep stimulus, seek ways to coordinate economies
China recovery not yet on solid footing – Xi
BRUSSELS, Oct 9 (Reuters) – China’s economic recovery is not yet on a solid footing so the country will carry on with its fiscal stimulus for now, Chinese Vice President Xi Jinping said on Friday.
Speaking at an economic seminar during a visit to Belgium, Xi forecast that a return to growth across the world would be slow and gradual. (more…)
Bernanke sees tighter policies as economy heals
By Mark Felsenthal
WASHINGTON, Oct 8 (Reuters) – The U.S. Federal Reserve must continue measures to prop up the economy for an extended period but can’t do so indefinitely for fear of triggering an inflationary surge, Federal Reserve Chairman Ben Bernanke warned on Thursday.
Australia central bank raises rates, more expected
By Wayne Cole
SYDNEY, Oct 6 (Reuters) – Australia’s central bank raised its key cash rate by 25 basis points to 3.25 percent on Tuesday and heralded more to come, saying it was safe to row-back on stimulus now that the worst danger for the economy had passed.
Fed officials: Economy mending, but weakness persists
By Kristina Cooke and David Beasley
NEW YORK/MACON, Ga., Oct 1 (Reuters) – Federal Reserve officials said on Thursday that while the recession-battered economy is on the mend, it will be weak for a while and the Fed is likely to keep its extensive support policies in place for a while.
Cautious China backs G20 coordination; EU proposes bank rules
By Simon Rabinovitch and John O’Donnell
BEIJING/BRUSSELS, Sept 23 (Reuters) – China offered some support on Wednesday to U.S. plans to build a more balanced global economy, as world leaders seek to agree ways to nurture a tentative recovery and prevent future crises.
The European Union unveiled its blueprint for an overhaul of the way banks and financial markets are policed, with plans for a banking super-watchdog and a pan-European supervisor that it hopes can be replicated on the global stage.
Obama warns Wall Street to get behind reforms
By Caren Bohan
NEW YORK, Sept 14 (Reuters) – U.S. President Barack Obama warned financial firms on Monday to heed the lessons of Lehman Brothers’ collapse a year ago and get behind a regulatory overhaul he wants Congress to pass this year.
(more…)
Australia Treasurer warns against early stimulus withdrawal
LONDON, Sept 3 (Reuters) – Premature withdrawal of economic stimulus could derail a return to global growth, Australia’s Treasurer Wayne Swan said on Thursday.
(more…)
German minister urges G20 to soon reduce use of stimulus measures
BERLIN, Aug. 31 (Reuters) German Finance Minister Peer Steinbrueck urged colleagues from other G20 nations as soon as possible to start reducing fiscal measures used to tackle the global financial crisis.
Bernanke sees some economic gain, reviews Fed exit strategy
By Mark Felsenthal and Alister Bull
WASHINGTON, July 21 (Reuters) – Federal Reserve Chairman Ben Bernanke on Tuesday said the outlook for the long-suffering U.S. economy appears to be improving and the U.S. central bank was carefully reviewing ways to withdraw its massive monetary policy stimulus when conditions permit.
But Bernanke cautioned that unemployment was likely to remain high into 2011, and he warned that this could sap fragile consumer confidence and potentially undermine what is expected to be a very gradual recovery. (more…)
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