Mayawati gets another garland of currency notes ... - Peninsula
Unlike Monday, when efforts were made by BSP functionaries to conceal that the garland was made of currency notes, the party gloated about the gift Wednesday. Mayawatiâ€™s cabinet minister Naseemuddin Siddiqui declared: â€œThis garland has been made ...
Publ.Date : Thu, 18 Mar 2010 01:19:00 GMT
Detroit 3 raise Asian currency issues - Detroit News
The American Automotive Policy Council -- representing ... decision to proceed with or continue such interventionist policies will be strongly and directly challenged by the United States in defense of fairness and American jobs," the leaders said.
Publ.Date : Wed, 17 Mar 2010 21:58:00 GMT
World Bank urges China to let currency rise - Economic Times
BEIJING: The World Bank on Wednesday ... tough new penalties on China if it failed to revalue its currency, which they say Beijing keeps artificially low to secure an unfair edge in trade. The US action follows Chinese Premier Wen Jiabao's insistence ...
Publ.Date : Wed, 17 Mar 2010 08:08:00 GMT
China criticizes US pressure over currency - Fort Mill Times
Treasury has the option of declaring Beijing a currency manipulator. That would set the stage for a complaint to the World Trade Organization and possible sanctions. On Sunday, Premier Wen Jiabao ... recovered yet," Yao said. He noted China runs ...
Publ.Date : Thu, 18 Mar 2010 05:29:00 GMT
BusinessWeek: Canada Plays Down Concerns as Currency Approaches U.S ... - Democratic Underground.com
March 18 (Bloomberg) -- Canadian Prime Minister Stephen Harperâ€™s government is shifting its rhetoric on the Canadian dollar and playing down concerns about the currencyâ€™s gains in a bid to brace companies and consumers for parity with the U.S ...
Publ.Date : Thu, 18 Mar 2010 05:00:00 GMT
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Wall Street's S&P 500 Index to its biggest two-day gain in five years

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Author: Vanessa Burrow The Age

Stocks surge in slipstream of US markets after big hint from Fed

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INVESTORS are embracing the prospect of a US interest rate cut as an economic panacea, or so the sudden surge on world sharemarkets would suggest.

A heavy hint that the US Federal Reserve would lower rates again next month sent Wall Street's S&P 500 Index to its biggest two-day gain in five years.

The Australian dollar leapt to a recent high of US89.2¢, from nearer to 87¢. And Asian markets improved significantly, with the Hang Seng gaining 4.1% and Japan's Nikkei up 2.3 per cent (see historical graph below).

Australia's benchmark S&P/ASX 200 Index jumped 74.4 points, or 1.2%, to 6444.5.

St George treasury economist Amanda Tan said that until now most US Federal Reserve officials had been highlighting the risk of inflation rather than the current market turbulence and global economic uncertainty.

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