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 | TOKYO (UPI) -- The Bank of Japan Thursday sharply cut economic growth forecast for this fiscal year to 0.6 percent from 1.6 percent in the wake of the earthquake-tsunami.
The central bank, however, upwardly revised its forecast for fiscal 2012 to 2.9 percent from 2 percent because of expectations of higher domestic demand brought on by the reconstruction effort in those areas hit by the March 11 calamity.
Japan is the world's third largest economy after the United States ...
Continue Reading... Post a Comment | Share KUALA LUMPUR, Malaysia (UPI) -- China, with its economic clout, can help formulate a unified currency in Asia that would boost trade, the Malaysian deputy finance minister told China Daily.
Lim Siang Chai spoke to China Daily as Chinese Premier Wen Jiabao arrived in Kuala Lumpur on a two-day visit.
Lim was quoted as saying a unified Asian currency would help emerging economies in the region boost trade and protect them from the risks of exchange rate fluctuations.
Continue Reading... Post a Comment | Share TOKYO (UPI) -- Japan's March industrial output, hit by the quake-tsunami disaster, fell a record 15.3 percent from February, the government said Thursday.
The industry ministry blamed the March decline in output of factories and mines on power shortages and supply chain disruptions resulting from the March 11 disaster. In February, the output was up 1.8 percent from the previous month.
The March decline was more than the 11.4 percent drop forecast in a Kyodo News market ...
Continue Reading... Post a Comment | Share | | Advertisement | NEW YORK (UPI) -- Crude oil prices rose above $113 Wednesday after the U.S. Federal Reserve's policymakers said monetary policy, for now, would not change.
The Fed's Open Market Committee said the federal fund rate would remain at zero to 0.25 percent, until it sees a program of purchasing $600 billion in Treasuries to its conclusion in June.
After that, Fed Chairman Ben Bernanke said the central bank would reinvest, keeping the size of its portfolio unchanged.
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Continue Reading... Post a Comment | Share |  | | | More Headlines • WWII-era mine threatens BP pipeline
• Nokia to phase out 7,000 jobs
• Bernanke in historic briefing explains Fed
• Equities climb Wednesday
• Grain futures drop sharply Wednesday
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