Canada’s Inflation Rate Slows
Canada’s annual inflation rate fell to 1.2 percent in March from 1.4 percent the previous month; the result is far below the 2 percent target that the Bank of Canada aims for as the ideal for sustainable growth.
Derek Holt – an economist with Scotia Capital predicted that inflation would remain low “for a good long time” and that investors are waiting to see what actions the Bank of Canada plans to take to prevent further contraction. More
Euro Continues to Struggle
Despite ECB President Jean Claude Trichet’s assurance that the Bank has a plan to spur confidence in the eurozone, the euro marked its fourth straight day of losses against the dollar. More
Citigroup Propels Market Rally
Global stock markets continued to make gains as better-than-expected results from General Electric and Citigroup boosted investor confidence. The dollar was also caught up in the rally jumping to a one-month high against the euro. More
Economy Showing Signs of Recovery – David Miles
Citing recent results from the world’s major banks, David Miles – the newest member of the Bank of England’s Monetary Policy Committee – recently said in a newspaper interview that the worst of the recession could be over. Miles also added that early feedback from the government’s policy of quantitative easing has been “mildly encouragingâ€. More
