Coming up in the global economy this week are readings on inflation in the U.K. and growth in the euro region, the third Communist Party plenary session in China and retail sales in Brazil. In the U.S., Janet Yellen’s confirmation hearing in her bid to become the next chairman of the Federal Reserve will take center stage.
Japanese Prime Minister Yoshihiko Noda faced new challenges to his leadership as a member of the ruling group rejected his plan for a sales-tax boost and opposition widened to his nominee for the central bank board.
The Kobe earthquake in 1995 sparked a 20 percent yen surge in three months. After the latest disaster, world leaders are uniting to ensure a stronger currency doesn’t derail efforts to rebuild the economy as Japanese officials flood the financial system with cash.