Norwegian Central Bank kept its key interest rate unchanged

October 26, 2017 11:39 amComments Off on Norwegian Central Bank kept its key interest rate unchanged
Norwegian Central Bank kept its key interest rate unchanged

The Norwegian central bank kept its key interest rate unchanged at a record low level of 0.5%. The low interest rates aim to support the economic recovery of the country, which was seriously hit by low oil prices. The Central Bank Governor Oystein Olsen said that the prospects and balance of risks for the Norwegian economy did not seem to have changed significantly since the September meeting. The economy of […]

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Turkey expects record economy growth

7:30 amComments Off on Turkey expects record economy growth
Turkey expects record economy growth

Turkey expects record economy growth after the export in 2017 will increase by 11% yoy, reaching record high in the history of the modern Turkish Republic. “Export will exceed 157.6 billion USD this year, which is the historic peak with an increase of 11% in the year”, said the Turkish Economy Minister, Nihat Zeybekci. He also noted that Turkey’s exports increased by 16% in October compared to the same month […]

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German business confidence improves to a new record high in October 2017

October 25, 2017 12:57 pmComments Off on German business confidence improves to a new record high in October 2017
German business confidence improves to a new record high in October 2017

German business confidence unexpectedly improves to a new record high in October 2017, indicating that the momentum of growth in the largest European economy is far from weakening. The index of the Munich Institute for Economic Research (Ifo) rose from 115.3 points in September to 116.7 points in October, beating the expectations of economists for retreat to 115.1 points. “Companies are very optimistic about the months ahead. They also upwardly […]

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British economy is expanding faster than expected in Q3 2017

11:34 amComments Off on British economy is expanding faster than expected in Q3 2017
British economy is expanding faster than expected in Q3 2017

The British economy is expanding faster than expected in Q3 2017, which may reinforce speculation that the Central Bank of England (BoE) will raise the benchmark interest rate for the first time in over a decade. The country’s gross domestic product (GDP) is growing by 0.4% quarter-on-quarter, surpassing forecasts by economists for a growth of 0.3%. The services sector grew by 0.4% and industrial output jumped by 1%. However, construction […]

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Eurozone private sector growth slowed but remain stable in October 2017

October 24, 2017 1:43 pmComments Off on Eurozone private sector growth slowed but remain stable in October 2017
Eurozone private sector growth slowed but remain stable in October 2017

Eurozone private sector growth has slowed sharper than expected in October 2017. However, the PMI remains strong, despite that the companies are raising their prices at the fastest rate in six years. The Purchasing Managers’ Index (PMI) of IHS Markit for Production and Procurement dropped to 55.9 points in October from 56.7 points in September. The benchmarks are still well above the 50-point mark, which divides the expansion from the […]

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