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Today's News

Philippine Inflation Eases In January

1 minute ago

Philippine inflation eased more than expected in January, data from the National Statistics Office showed Tuesday. Inflation slowed to 3.9 percent in January 2012 from 4.2 percent in December 2011. Economists expected a slowdown to 4 percent. The fall in the inflation rate was triggered by a continued deceleration in the annual rate of increase of the heavily weighted food and non-alcoholic beverages index, the statistical office said. On a monthly basis, the consumer price index rose 0.4 percent compared to 0.2 percent decline in the the previous month.

Hong Kong's Hang Seng Index Is Now Losing 41 Points, Or 0.2%, To 20,669

3 minutes ago

Australia Central Bank Keeps Interest Rate Unchanged

18 minutes ago

The Reserve Bank of Australia on Tuesday decided to keep the benchmark cash rate unchanged at 4.25 percent against economists' expectations that the rate will be cut to 4 percent. In a statement today, governor Glenn Stevens said that with growth expected to be close to trend and inflation close to target, the Board judged that the current setting of monetary policy was appropriate for the moment. He also noted that if demand conditions weaken materially, the inflation outlook would provide scope for easier monetary policy. Stevens said interest rates for borrowers have declined to be close to their medium-term average, as a result of the actions at the Board's previous two meetings.

Aussie Surges Up After RBA Leaves Interest Rate At 4.25%

23 minutes ago

The Reserve Bank of Australia decided to retain its interest rate at 4.25 percent. Following the announcement in Asian deals on Tuesday at 10:30 pm ET, the Australian dollar spiked higher against other major currencies. The aussie is currently worth 1.0810 against the US dollar, 1.2158 against the euro, 82.90 against the yen, 1.2925 against the NZ dollar and 1.0760 against the Canadian dollar.

Aussie Spikes Up Amid RBA Interest Rate Decision; Now At 1.0780

26 minutes ago

Yen Weakens Against Most Majors

27 minutes ago

The yen declined against most major currencies in early Asian trading on Tuesday in response to Japanese Finance Minister Jun Azumi's warning that the government will act in the foreign exchange market when needed. "If speculative moves become evident and market moves deviate from economic fundamentals, and speculators distort markets in their self interest, I'll take any steps if necessary in order to protect Japan's national interest," Azumi told reporters today. "As I said back then (when Japan last intervened), I would not rule out any measures," he said. Elsewhere, Japan's Finance Ministry said today morning that it and the Bank of Japan conducted yen-selling, dollar-buying operations for five straight days starting Oct. 31, when the Japanese currency appreciated to a record high against the dollar. On that day, the total value of foreign exchange intervention operations reached a record 8.07 trillion yen, the report said.

RBA Retains Key Interest Rate At 4.25%

27 minutes ago

Japan Conducted Stealth Intervention During Oct-Dec., MoF Data Shows

29 minutes ago

Japan's Finance Ministry and the Bank of Japan conducted stealth intervention in the currency market during the December quarter of 2011 to contain yen gains, data from the Ministry of Finance confirmed Tuesday. Japan carried out yen-selling, dollar-buying operations for five consecutive days starting October 31, the data shows. On October 31, when the yen climbed to a post-war high of 75.35 against the dollar, the total value of foreign exchange intervention operations reached a record JPY 8.07 trillion. After the announced full-scale operation on October 31, Japan sold a total of JPY 1.02 trillion during the first four days of November. Total amount of foreign exchange intervention operations for the period from October through December 2011, therefore, amounted to JPY 9.09 billion.

Aussie Mixed Against Majors Ahead Of RBA Interest Rate Decision

31 minutes ago

The Reserve Bank of Australia will announce its decision on interest rates at 10:30 pm ET. Analysts are split on whether the bank will keep rates unchanged at 4.25 percent or trim rates by 25 basis points to 4.00 percent. Ahead of the announcement, the Australian dollar showed mixed trading against other major currencies. While the aussie fell against the greenback, NZ dollar and the Canadian dollar, it rose versus the yen. Against the euro, the aussie moved sideways. As of now, the aussie is worth 1.0710 against the US dollar, 1.2249 against the euro, 82.25 against the yen, 1.2845 against the NZ dollar and 1.0680 against the Canadian dollar.

Univision, Disney look at English news channel

32 minutes ago

Univision and Disney are in talks to create a 24-hour news channel for Latinos in English, two sources close to the negotiations said Monday. Both sources declined to go on the record because they were not authorized to speak. The goal would be to begin broadcasting before the November presidential election. That would give the network plenty of time to provide political coverage geared toward Hispanics, who are considered influential swing voters in states like Florida, New Mexico and Colorado. Univision is the nation's largest Spanish-language media company, and it has long prided itself on its Spanish-language content. In recent years, officials have quietly acknowledged that in order to maintain and expand viewership, they need to provide content to second- and third-generation Latinos who speak English as their first language.