Financial News

Reuters - September 08, 2010
The Bank of Canada raised its benchmark interest rate for a third consecutive time on Wednesday and sounded surprisingly hawkish despite predicting a more gradual than expected economic recovery.

The central bank nudged its overnight rate target up 25 basis points to 1 percent and, contrary to most economists' expectations, did not signal a pause for its next decision in October. It said rates remained "exceptionally stimulative" but kept all options open due to ...

Reuters - September 08, 2010
The economy has shown "widespread signs" of slowing over recent weeks, the Federal Reserve said on Wednesday in a report suggesting the recovery was faltering along the East Coast and in the Midwest.

The Fed said in its Beige Book compilation of anecdotal reports that modest growth was the most common characterization of economic activity in Fed districts, primarily those in the western and middle portions of the country such as San Francisco, Dallas and Kansas Ci...