Economy
China May Choose to Increase Wages Over Yuan Gains to Narrow Trade Surplus China, under international pressure
to reduce its trade surplus, may choose to shrink it through
raising workers’ wages rather than letting the yuan appreciate,
Credit Suisse Group AG said.
Japanese Machinery Orders Rise More-Than-Anticipated 20.1% From Record Low Japanese machinery orders rose the
most in nine years from a record low, supporting a recovery
from the country’s deepest postwar recession.
Germany Mulls Greek Aid as Market Drop Spurs Reversal on Eve of EU Summit German Finance Minister Wolfgang
Schaeuble will brief lawmakers today on steps he may take to
support the Greek government as it braces for a wave of strikes
protesting deficit-reduction plans.
Summers Says He's Optimistic Congress Will Pass Bill to Boost Job Growth White House economic adviser Lawrence
Summers said today he is “optimistic” that Congress will pass
legislation this year aimed at job creation.
Australian Consumer Confidence, Home Lending Fall After Record Rate Rises Australian consumer confidence fell
and home lending declined after the central bank raised interest
rates a record three times late last year.
South Korea's Central Bank May Maintain Rate at 2% Amid Political Pressure South Korea’s central bank may keep
the benchmark interest rate at a record low as the government
presses policy makers to stoke the economy before elections.
Greek Strikes to Paralyze Athens as Papandreou's Deficit Drive Challenged Prime Minister George Papandreou’s
drive to get Greece’s ballooning budget under control will be
challenged in the streets today as striking labor unions shut
down schools, hospitals and flights.
Japanese Producer Prices Decline for a 13th Straight Month Amid Deflation Japan’s producer prices fell for a
13th month in January, the longest streak in six years,
indicating deflation is likely to persist even as commodity
costs increase.
Paulson Tells Buffett U.S. to Get `Every Penny' of Bailout Back From Banks Former Treasury Secretary Henry
Paulson, responding to a question from billionaire Warren
Buffett, said the U.S. government will be repaid in full for the
funds it put into the country’s lenders.
Philippine Exports Rise at Fastest Pace in Four Years on Global Recovery Philippine exports rose at the
fastest pace in almost four years in December as the global
economic recovery boosted demand for electronics goods.
Yoon Says He's Unaware of Candidate to Succeed Bank of Korea Governor Lee South Korea’s Finance Minister Yoon
Jeung Hyun said he is unaware of who will succeed central bank
Governor Lee Seong Tae when his term ends next month, and backed
parliamentary hearings for the candidate.
Fed's Yellen Says Flexible Yuan May Ease China's Concerns About Inflation Federal Reserve Bank of San Francisco
President Janet Yellen said a more flexible exchange rate policy
in China may help mitigate growing concerns about inflation
there and ease “global imbalances.”
End of TALF Means Bond Sales With Spreads Five Times Wider: Credit Markets The end of a Federal Reserve program
that helped unlock credit markets is spurring sales of asset-
backed bonds with relative yields five times wider than on debt
secured by car loans.
Hoenig Says He Dissented on FOMC's `Extended Period' Language on Rates Kansas City Federal Reserve Bank
President Thomas Hoenig said he dissented from the Fed’s last
policy decision because promising to keep rates low for an
“extended period” isn’t appropriate as the crisis fades.
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