Information received since the Federal Open Market Committee met in July suggests that economic activity is expanding at a moderate pace. On balance, labor market conditions improved somewhat further; however, the unemployment rate is little changed and a range of labor market indicators suggests that there remains significant underutilization of labor resources. Household […]
A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D.C., on Tuesday, July 29, 2014, at 10:00 a.m. and continued on Wednesday, July 30, 2014, at 9:00 a.m.
Janet L. Yellen, Chair
The Reserve Bank today increased the Official Cash Rate (OCR) by 25 basis points to 3.25 percent.
New Zealand’s economic expansion has considerable momentum, with GDP estimated to have grown by around 4 percent in the year to June. Global financial conditions remain very accommodative and are reflected in low long-term […]
The following is a reformatted version of the full text of the statement released today by the Federal Reserve in Washington:
Information received since the Federal Open Market Committee met in January suggests that the economy has been expanding moderately. Labor market conditions have improved further, the unemployment rate has declined notably in recent months […]
Statement by Glenn Stevens, Governor: Monetary Policy Decision
At its meeting today, the Board decided to leave the cash rate unchanged at 4.25 per cent.
Information becoming available since the December meeting confirms that economic conditions in Europe were weakening late last year, with risks still skewed to the downside. Reflecting this, most forecasters have […]
According to the latest report released by the Australian Bureau of Statistics, retail sales declined in December, the first drop in six months, as consumers spent less at grocers and on dining out. Reserve Bank of Australia’s board meets tomorrow to decide on rates, and most economists predict a third straight reduction. A survey of […]
Even though Greek debt negotiations are still pressuring the euro in foreign currency market, disappointing U.S. economic data put doubts on the strength of the greenback. The latest Consumer Confidence Index figures released by the Conference Board showed that consumer confidence retreated in January, after large back-to-back gains in the final two months of 2011. […]
While Greek officials are talking with private creditors about reducing its debt before a key payment comes due in March, people are increasingly wondering that if the Greeks don’t want to help themselves, why others should. Some believe that a terrible end is better than a terror without end. Some economists say that it’s better […]
In the forex market, American dollar gained again the euro after mixed economic data. According to Commerce Department data, bookings for long-lasting goods advanced 3% after rising 4.3% the prior month, this is the biggest back-to-back gains in almost a year. Figures from the Commerce Department showed Purchases of single-family properties decreased 2.2% from the […]