Real GDP in the U.K. expanded 1.9% at an annualized rate according to the second estimate by the Office for National Statistics.  That matched the first estimate and left GDP at the same level as in the third quarter of 2010.  Fourth-quarter 2010 activity had been slammed by harsh weather mostly in December, and the [...]

Monetary authorities at the Central Bank of the Republic of Turkey decided as expected to continue their wait-and-see stance, observing the lagged impact of various policy changes late last year and in early 2011.  In May 2010, the one-week repo rate was adopted as the key operative central bank policy interest rate.  It has been [...]