China’s Foreign Reserves Pass $2 Trillion
China’s foreign currency reserves – already the world’ largest – now exceed $2 trillion according to the People’s Bank of China. The increase is due mostly to a return to China of foreign investment and moves by the Bank of China to prevent the yuan from appreciating. More
US Consumer Prices Rise 0.7 Percent
The US Commerce Department announced that consumer prices jumped by 0.7 percent in June compared to the expected 0.6 percent increase. More
UK Unemployment on the Rise
The Office for National Statistics said today that unemployment in the UK rose by a record 281,000 to 2.38 million in the three month period ending in May. UK’s unemployment rate is now 7.6 percent – the highest in more than ten years. More
Canada’s Inflation Rate to Fall Into Negative Range
This Friday, Statistics Canada will release the country’s latest inflation rate and analysts are predicting that the annual rate will fall to negative 0.3 percent. However, analysts are also predicting that this dip into negative territory will be short-lived and is based mostly on the much higher cost of oil and energy products this time last year. More
