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Japan central bank revamps policy to boost economy

Japan is making a sweeping shift in its monetary policy, aiming to spur inflation and get the world's third-largest economy out of a long, debilitating slump. Bowing to demands from Prime Minister Shinzo Abe for more aggressive monetary easing, the Bank of Japan announced Thursday a policy overhaul intended to double the money supply and achieve a 2 percent inflation target at the "earliest possible time, with a time horizon of about two years."

 

BRICS plan development bank to fund infrastructure

Leaders of the five BRICS nations fueling global economic growth plan the creation of a development bank in a direct challenge to the World Bank that they accuse of Western bias.

 

Cyprus given 4 days to find bailout solution

Cyprus - Fox News

As Cypriot politicians raced to find a new financial rescue plan ahead of a Monday deadline, tensions built in the streets of the capital. Residents withdrew what money they could from ATMs amid concern the banks could collapse.

 

Fed Maintains Rates and Strategy

The central bank affirmed that it would keep up its existing efforts to stimulate the economy, even though it expected a return to moderate growth.

 

Analysis: ECB prepared to let Cyprus go, protect others

Eurozone - Reuters

The European Central Bank is prepared to cut off funding to Cyprus and let the Mediterranean island succumb to financial meltdown if it has to, confident it has unlimited firepower to protect the rest of the euro zone.

 

ECB leaves key rate at record low of 0.75 percent

The European Central Bank has left its benchmark interest rate unchanged at a record low of 0.75 percent, holding off on further stimulus even though the euro area remains stuck in recession.

 

Euro Watch: Euro Zone Unemployment Rose to New Record in February

The data is likely to put pressure on the European Central Bank to cut interest rates at its next meeting.

 

Debate Shifts at Fed to Easing Its Efforts to Spur Economy

The Federal Reserve has left little doubt about its plans, but inside the central bank, debate is moving from whether the Fed should do more to stimulate the economy to when it should start doing less.

 

It's 'cash only' now for tourists at the Vatican

Vatican

It’s “cash only” now for tourists at the Vatican wanting to pay for museum tickets, souvenirs and other services after Italy’s central bank decided to block electronic payments, including credit cards, at the tiny city-state.

 

Fed to Hold Rates Down Until Jobless Rate Is Below 6.5%

The central bank said Wednesday that it would maintain short-term interest rates near zero, even after it stops buying bonds, for as long as the unemployment rate stayed above 6.5 percent.

 

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