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To lower interest rates, Citi customers must spend
NEW YORK – For Citibank credit card holders, there is one way to escape the bank’s rate hikes currently under way: Meet a monthly spending requirement.
U.S. dollar to be reserve currency for years - IMF
WASHINGTON - The U.S. dollar will remain the world¡¯s primary reserve currency for many years or decades, an International Monetary Fund official said on Thursday.
Fed officials play down impact of weak dollar
HONG KONG/SINGAPORE - Federal Reserve officials on Thursday downplayed the consequences of the falling U.S. dollar, underscoring that deflation is still a threat, especially with commercial real estate prices falling.
U.S. Treasuries slightly weaker after mixed data
NEW YORK - U.S. Treasury debt prices were mostly slightly lower on Wednesday but losses were limited after mixed data showed surprising weakness in housing but unexpectedly high inflation.
Dollar interbank lending rates at record low
LONDON - Benchmark bank-to-bank dollar funding costs set another record low on Wednesday while sterling rates edged lower on the firm view central banks will keep extraordinary stimulus measures in place well into 2010.
Goldman Sachs, Buffett to help small businesses
NEW YORK — Goldman Sachs Group Inc. is teaming with billionaire investor Warren Buffett to invest $500 million to provide thousands of small business owners across America with college scholarships and boost their access to capital.
ECB warns countries risk losing budget credibility
PARIS/BRUSSELS - Budget excesses in some European countries could still derail economic recovery although the outlook is generally looking up, European Central Bank policymakers said on Tuesday.
S.Africa cbank holds rates, shrugs off union pressure
JOHANNESBURG - South Africa’s central bank left interest rates flat on Tuesday, shrugging off pressure from union allies of the ruling ANC for aggressive rate cuts to help spur the economy out of its slump and create jobs.
Bonds retreat as price data weighs
NEW YORK - U.S. Treasury debt prices fell on Tuesday, pulling benchmark yields back up from their lowest levels in nearly a month, as inflationary details in an otherwise soft producer price report worried some investors.
IMF chief again says Chinese yuan should rise
BEIJING - International Monetary Fund chief Dominique Strauss-Kahn on Monday reiterated that a stronger yuan would help bolster China’s economy, amid mounting pressure on Beijing to let the currency rise.
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