| US Economic News |
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Dr. Rajeev Dhawan Says Aftershocks Of Credit Crunch Are Damaging Growth
The aftershocks of the credit crunch are "damaging growth," the Economic Forecasting Center's Dr. Rajeev Dhawan said Wednesday. He discussed the "nervous" economy and predicted a bailout for embattled mortgage lenders Fannie Mae (FNM) and Freddie Mac (FRE).
"Credit aftershocks are damaging growth," he said at an Economic Outlook Conference at Georgia State University in Atlanta.
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| European Economic News |
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Norwegian NAV jobless rate remains stable at 1.8%
Thursday, the Norwegian Labour and Welfare Service said in its report that the NAV jobless rate stood at 1.8% for the second straight month in August. The rate matched economists' expectation. In the same period last year, the jobless rate stood at 2%. The rate was 1.5% in June and May.
The number of registered unemployed was down 4,523 over the previous year and totaled 44,364 in August. During the previous month, the number of unemployed was down 6,923 annually and had reached 44,102.
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| Asian Economic News |
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Philippine Central Bank Hikes Rates
Thursday, in a widely expected move, the Philippine central bank raised its interest rates by 25 basis points in bid to contain rising inflation.
At its meeting, the Bangko Sentral ng Pilipinas Monetary Board increased its overnight borrowing or reverse repurchase rate to 6% and the overnight lending or repurchase rate to 8%. The central bank is raising its rates for the third month in a row.
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| All Economic News |
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Norwegian NAV jobless rate remains stable at 1.8%
Thursday, the Norwegian Labour and Welfare Service said in its report that the NAV jobless rate stood at 1.8% for the second straight month in August. The rate matched economists' expectation. In the same period last year, the jobless rate stood at 2%. The rate was 1.5% in June and May.
The number of registered unemployed was down 4,523 over the previous year and totaled 44,364 in August. During the previous month, the number of unemployed was down 6,923 annually and had reached 44,102.
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