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European finance officials say any adjustments to China's fixed exchange rate should be handled with caution, rejecting US calls for an early free float of the yuan.
The cost of money has fallen further around the world this week with the Bank of England and a trio of Asian central banks trimming interest rates to jump start a hesitant global economic recovery.
German Chancellor Gerhard Schroeder suggested in an interview published Friday that the European Central Bank should do more to weaken the euro against the U.S. dollar, a call that followed the bank's decision to leave interest rates unchanged.
B>NEW YORK: /B>Factory activity in the United States and Japan improved in June while Europe's manufacturers suffered a deeper contraction, the latest surveys showed, underscoring how the euro's export-choking rise against major currencies has brought yet more pain to the euro zone economy.
THE euro strengthened further against other major currencies yesterday as investment money poured into euro deposits following the European Central Bank's (ECB) decision to leave interest rates unchanged at 2.5%.
Economic policy-makers around the world are running out of tools to boost the flagging global economy, according to a World Bank report just released.
New data this week highlighted a mood of caution at corporations in major economies as the International Monetary Fund (IMF) warned that the world could sink into recession if the war in Iraq drags on.
Central bankers are refining their battle plans for coping with the upheaval that an Iraqi war could cause in financial markets and their economies.
The Zimbabwe Cricket Union (ZCU) have begun counting the millions of dollars they will lose after their cricket team#8217;s World Cup match against England today was called off.
The International Cricket Council (ICC) has cancelled England's match against Zimbabwe in strife-torn Harare tomorrow in a last-gasp bid to save the tournament from the threat of a match boycott.