Colombia needs to do more to weaken the peso to its “equilibrium rate” of about 1,950 per dollar and should continue its purchases of the U.S. currency, Finance Minister Mauricio Cardenas said.
European Central Bank President Mario Draghi said his pledge to buy government bonds is helping to ensure that interest-rate cuts reach the parts of the euro-area economy that need them the most.
China’s manufacturing is contracting in May for the first time in seven months, adding to signs that economic growth is losing steam for a second quarter.
Singapore’s economy unexpectedly expanded last quarter as services and construction strengthened, reducing pressure on the central bank to ease monetary policy.
Federal Reserve Bank of New York President William C. Dudley said policy makers will know in three to four months whether the economy is healthy enough to overcome federal budget cuts and allow the central bank to begin reducing record stimulus.
Russian industrial-output growth slowed as a stalling economy and weakening exports hurt demand.
Serbia’s economy will grow less than expected this year because of the deteriorating economic outlook in the euro area, its key trading partner, and subdued domestic demand.
China’s commercial crude stockpiles rose in April to the highest level in three months and diesel supplies dropped after the nation curbed refining.
The following is a reformatted version of the full text of the statement released today by the Bank of Japan in Tokyo.
Russian industrial production probably grew more slowly in April than in the previous month as a stalling local economy and weakening exports hurt demand.
Miles, Wellisz on Fed, Retail Sales, Factories
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