Political Economy Archive: *Morning briefing
Morning briefing: UAE BlackBerry ban averted
The European Central Bank left its key interest rates stable at 1 percent and signaled that it's unlikely to consider new stimulus measures despite signs that the recovery is slowing. The United Arab Emirates canceled a ban on BlackBerry services that had been due to take effect Monday, confirming that a deal had been reached but offering no details.
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Ariana Eunjung Cha
| October 8, 2010; 10:20 AM ET |
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Morning briefing: More calls for yuan flexibility
The dollar slid to a 15-year low versus the Japanese yen, an all-time low against the Swiss franc, a 27-year-low against the Australian dollar and an eight-month low against the euro. The currency fluctuations were due to the prospect of more money-printing by the U.S. Federal Reserve, the strength of the Australian job market revival and anticipation of an upcoming European Central Bank policy meeting. Less than a day after U.S. Treasury Secretary Timothy Geithner called the currency issue the "central existential challenge," the head of the IMF and the European Trade Commissioner called for the appreciation of the Chinese yuan.
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Ariana Eunjung Cha
| October 7, 2010; 8:00 AM ET |
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Morning briefing: Bank of Japan downgrades economic outlook
Japan's central bank downgraded its assessment of the economy in October due to the impact on exporters of a strong yen and amid mounting global uncertainty over the economy. The country's ruling Democratic Party urged the cabinet on Wednesday to consider more stimulus money.
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Ariana Eunjung Cha
| October 6, 2010; 6:05 AM ET |
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Morning briefing: Ireland's credit rating may be lowered again
Japan's central bank cut key interest rates further, to a range of zero to 0.1 percent as it tries to stimulate the faltering economy. Moody's on Tuesday warned that it may downgrade Ireland's credit rating again, due to the high costs of bailing out its banks and a weak economic recovery.
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Ariana Eunjung Cha
| October 5, 2010; 10:34 AM ET |
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Morning briefing: Japan hikes cigarette tax dramatically
Cigarettes stacked on a shelf at a tobacco store in Tokyo. (Photo Credit: Tomohiro Ohsumi/Bloomberg) 1. Japan hiked taxes on cigarettes to a record 40 percent to try to discourage smoking. 2. Ecuador declared a state of emergency as...
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Ariana Eunjung Cha
| October 1, 2010; 8:16 AM ET |
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Morning briefing: China warns of damaged economic ties
1.China warned the U.S. Thursday that measures approved by American lawmakers to penalize governments that manipulate exchange rates violate free trade rules. 2. The finance ministers of 16 countries in Europe that use the euro gathered in Brussels to discuss...
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Ariana Eunjung Cha
| September 30, 2010; 9:15 AM ET |
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