Archive for May, 2005
ECB holds rates at 2% as growth remains weak
The European Central Bank held its main refinancing rate at 2 per cent for the 23rd straight month last week. The decision was widely expected with all economists forecasting that the ECB would leave rates unchanged. While several members of the ECB’s governing council are believed to be keen to raise rates from their historic [...]
May 9, 2005
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Leading car companies are cut to junk
General Motors and Ford, two of America’s industrial icons, were downgraded to junk status on Thursday amid mounting concerns about their ability to stem losses in the intensely competitive US car and truck market. Standard & Poor’s, the credit rating agency, said the downgrades reflected anxieties about the survival strategies at the two companies, which [...]
May 6, 2005
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US Treasury to reintroduce 30 year bonds
The US Treasury surprised the markets by announcing it was considering reissuing 30-year bonds – a move that would reverse a decision made in 2001 to concentrate on shorter maturities. Government officials denied the change was triggered by the need to fund rising US debt or to support pension system reform. “This is about diversifying [...]
May 5, 2005
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US interest rates rise 0.25% to 3%
In coming months, consumers can expect more of what they have seen for nearly a year -a gradual increase in interest rates controlled by the Federal Reserve. That was the message delivered by the Fed when on Tuesday policy-makers for the eighth time increased a key interest rate by a quarter-point, pushing the federal funds [...]
May 4, 2005
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Fed expected to increase rates by 0.25%
The Federal Reserve Chairman Alan Greenspan and his colleagues are being buffeted by strong economic crosscurrents rising inflation pressures on one hand and a sudden slowing in economic growth on the other. Faced with conflicting forces, the Fed is still expected to stay the course, raising interest rates by a moderate quarter-point on Tuesday, the [...]
May 3, 2005
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