ECB to Offer Banks Cheap Loans
European banks are lining up to take advantage of a loan offer from the European Central Bank. The offer – intended to inject more cash into the economic system – consists of one year loans of any currency at the record low rate of 1.0 percent. More
Oil Falls Below $67 a Barrel
Oil futures for August delivery fell by 34 cents to $67.16 a barrel in mid-afternoon trading in New York today. More
US Home Sales Disappoint
The National Association of Realtors said today that home sales rose 2.4 percent in April for a seasonally-adjusted annual rate of 4.77 million. The results were below predictions suggesting that a “meaningful recovery” in the housing market is yet to materialize. More
Moody’s: US Credit Rating “Remains Solid”
Pierre Cailleteau – Managing Director of sovereign risk at Moody’s Investors Service – said today that the US government’s Aaa credit rating “remains solid” and that the US dollar will not likely lose its title as the world’s reserve currency. More
