Romania’s monetary policy rate has been 6.25% since May 2010 and will remain at that level until at least the next meeting on August 3.  The central bank has not yet begun tightening, even tough CPI inflation of 8.4% as of May is twice as high as its level at the time of the May [...]

The euro topped $1.4400 for the first time in a week and is 0.4% higher on balance.  The dollar has also lost 1.2% against the kiwi, 0.6% relative to the Australian dollar, 0.5% versus the Canadian dollar, 0.2% against sterling, and 0.1% relative to the yuan.  Dollar/yen and dollar/Swiss are unchanged. Dollar/Swiss was as weak [...]

Turn on the radio to catch a weather report, and it’s there.  Switch to a ball game; it’s there too.  Put on your favorite TV show, and it’ll soon be in your face.  Go to the supermarket where background noise tends to be musical, and just wait. Sure enough, an interruption to bring you the [...]

U.K. real GDP rose 0.5% in the first quarter.  This rounded rate of growth according to the second revision of the national income accounts was the same as calculated previously, but the on-year rate was revised downward to 1.6% from 1.8%.  Personal consumption, business final capital fixed investment, and inventories made negative contributions to the [...]