China Reveals Its Own Economic Stimulus Plan
China intends to spend nearly $600 billion on economic plan to boost the its economy. More
Yen Falls as China Recovery Plan Could Prompt Carry Trades
The yen fell against most major currencies today as speculation that China’s planned economic recovery plan could encourage investors to engage in carry trades with higher-yielding Chinese assets. Using money borrowed from Japan which currently has an interest rate of 0.3 percent and with the Chinese government now offering financial backing, the risks associated with carry trades may now be reduced. More
Stock Markets Rally on News of China’s Economic Plan
Stock markets in Asia responded with a gain of seven percent after China announced a $600 billion economic recovery plan that will see money pumped into the Chinese economy for the next three years.More
UK Producer Price Index Falls by 1%
The Producer Price Index (PPI) – which tracks the cost of the materials and the operational expenses faced by British manufacturers – decreased by one percent for the for the month of October. Lower oil prices contributed to most of the cost reduction. More
