The Norwegian central bank’s efforts to tame the krone are paying off for exporters as the economy of western Europe’s largest oil producer slows, Industry Minister Monica Maeland said.
Mario Draghi will probably hint at the likelihood of more policy action as he unveils economic forecasts for the euro area.
The following is the text of the Federal Reserve Board’s Ninth District -- Minneapolis.
The pound weakened from near a two- year high versus the dollar after an industry report showed U.K. service growth slowed more in November than economists forecast.
Euro-area services growth slowed less than initially estimated in November, as German output increased to a 10-month high, outweighing declines in France and Italy.
China’s stocks rose to the highest level in almost three months, led by consumer discretionary and industrial companies.
Hong Kong stocks fell a second day as lenders slid after Chinese President Xi Jinping said the environment for economic development next year isn’t optimistic.
Chinese President Xi Jinping said the environment for economic and social development next year isn’t optimistic, in a signal that leaders may be willing to accept slower growth in 2014.
Asian stocks fell, with the equity gauge excluding Japan posting its first drop in eight days, as signs the U.S. economy is strengthening fueled speculation that the Federal Reserve will soon start tapering stimulus.
Dim Sum bond issuance has accelerated to the fastest pace since June 2012 as China’s pledge to move toward yuan convertibility boosts demand for the currency.