| US Economic News |
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Deputy Secretary Discusses Importance of Sovereign Wealth Funds
Deputy Secretary Robert Kimmitt spoke about the importance of Sovereign Wealth Funds Monday.
Kimmitt called the global financial crisis "an historic reassessment of risk in the world's financial markets." He said, "The United States and other countries are taking steps to provide much needed liquidity to the financial system; strengthen financial institutions; protect investors; and enhance market stability."
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| European Economic News |
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Eurozone Industrial Production Rises In August
The seasonally adjusted industrial production in the 15-nation economy rose 1.1% month-on-month in August after falling 0.2% in July, which was revised from an initial estimate of a 0.3% fall, the Eurostat reported Tuesday. The monthly increase was in line with economists' expectation.
However, on an annual basis, industrial output continued to fall for the fourth month in a row. In August, production declined 0.7% versus a revised 1.2% decrease in July. A 1.7% fall was initially reported for July. The annual decrease recorded in August was slower than the expected fall of 1.8%.
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| Asian Economic News |
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Indonesian Central Bank Lowers Reserve Ratio For Foreign Currency Deposits
Tuesday, the Indonesian central bank reduced the reserve ratio for foreign currency deposits to 1% from 3%. The Bank Indonesia took the measure to increase the availability of US dollar liquidity.
Last week, the central bank had decided to raise its policy rate by 25 basis points to 9.5%. The decision was taken after carefully considering developments in the global financial markets and its impact on the domestic economy.
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| All Economic News |
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Indonesian Central Bank Lowers Reserve Ratio For Foreign Currency Deposits
Tuesday, the Indonesian central bank reduced the reserve ratio for foreign currency deposits to 1% from 3%. The Bank Indonesia took the measure to increase the availability of US dollar liquidity.
Last week, the central bank had decided to raise its policy rate by 25 basis points to 9.5%. The decision was taken after carefully considering developments in the global financial markets and its impact on the domestic economy.
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