Sunday, May 27, 2012 5:10 PM EDT
The International Monetary Fund (IMF) is an international organization that oversees the global financial system by following the macroeconomic policies of its member countries, in particular those with an impact on exchange rates and the balance of payments. It is an organization formed with a stated objective of stabilizing international exchange rates and facilitating development. It also offers highly leveraged loans mainly to poorer countries. Its headquarters are located in Washington, D.C., United States.
By Reuters UK
A slump in construction output drove Britain even deeper into recession than initially thought in the first quarter of this year, raising the chance the Bank of England will inject more cash to prop up the faltering economy. (May 24)
MORE TOPICS: HSBC, GDP, BANK OF ENGLAND, INTERNATIONAL MONETARY FUND, QUANTITATIVE EASING, MORTGAGE
By Reuters
European Union leaders, advised by senior officials to prepare contingency plans in case Greece decides to quit the single currency, urged the country to stay the course on austerity and complete the reforms demanded under its bailout program. (May 24)
MORE TOPICS: GERMANY, EUROPEAN UNION, EUROPEAN CENTRAL BANK, INVESTMENT
By Reuters
Russia's gold and foreign exchange reserves fell to $514.3 billion in the week to May 18, from $518.8 billion a week earlier, central bank data showed on Thursday. (May 24)
MORE TOPICS: GOLD
By GoldCore
Gold's London AM fix this morning was USD 1,558.50, EUR 1,239.27, and GBP 993.62 per ounce. Yesterday's AM fix this morning was USD 1,555.00, EUR 1,229.44, and GBP 989.56 per ounce. Silver is trading at $28.12/oz, €22.46/oz and £18.01/oz. Platinum is trading at $1,430. (May 24)
By Reuters UK
Britain fell deeper into recession than first thought in the first quarter of this year after a sharp drop in construction output, raising the likelihood the Bank will need to inject more stimulus to protect the economy from the raging euro zone debt crisis. (May 24)
MORE TOPICS: GDP, INTERNATIONAL MONETARY FUND, QUANTITATIVE EASING, MORTGAGE, INVESTMENT
By Ashraf Laidi
More evidence of the German locomotive dragged down by the rest of the European continent as German manufacturing PMI dips to 45.0, its lowest figure since May 2009. The French version of manufacturing PMI hit 44, also a 36-month low. EURUSD hits a fresh low on the year at $1.25, down 3. (May 24)
MORE TOPICS: GOLD, MANUFACTURING, ELECTIONS
By Reuters UK
Economy shrank more than first thought between January and March, after the deepest fall in construction output in three years, while government spending made the biggest contribution to growth, official data showed on Thursday. (May 24)
MORE TOPICS: GDP, INTERNATIONAL MONETARY FUND, QUANTITATIVE EASING, INVESTMENT
By IBTimes UK
EU leaders ask Greece to commit itself to austerity and stay the course on reforms. (May 24)
MORE TOPICS: GERMANY, EUROPEAN UNION, INTERNATIONAL MONETARY FUND
By IBTimes
As European leaders struggled to hold the euro zone together at a nighttime summit in Brussels, a widening gap emerged between Germany and France, which are now under new management. (May 23)
MORE TOPICS: GERMANY, EUROPEAN UNION, EUROPEAN CENTRAL BANK, INVESTMENT
By Reuters
Each euro zone country will have to prepare a contingency plan for the eventuality of Greece leaving the single currency, euro zone sources said on Wednesday. (May 23)
MORE TOPICS: ELECTIONS
