Recent cuts in consumer energy bills could have been much bigger and made much earlier, research from consumer body Which? has found.
The Reserve Bank of Australia (RBA) cuts its key interest rate by 25 basis points to a record low of 2.25%.
UPDATE: *INDIA'S CENTRAL BANK KEEPS BENCHMARK POLICY RATE AT 7.75%, CUTS SLR TO 21.5% OF NDTL FROM 22%
India's Currency and Bonds are dumping…
Australian rate cut to 2.25% comes as India holds policy steady
Submitted by Mike Krieger via Liberty Blitzkrieg blog,
Everything is not awesome…
In a stunningly honest reflection on itself (and its peer group of professional prognosticating panderers), The Federal Reserve's San Francisco research group finds that – just as we have pointed out again and again – that since 2007, FOMC participants have been persistently too optimistic about future U.S. economic growth. Real GDP growth forecasts have typically started high, but then are revised down over time as the incoming data continue to disappoint. Possible explanations for this pattern include missed warning signals about the buildup of imbalances before the crisis, overestimation of the efficacy of monetary policy following a balance-sheet recession, and the natural tendency of forecasters to extrapolate from recent data. The persistent bias in the track records of professional forecasters apply not only to forecasts of growth, but also of inflation and unemployment.
Premier League football clubs have spent £130m in this year’s January transfer window, the same amount as in January 2014, research shows.
Submitted by David Stockman via Contra Corner blog,
Now and again history reaches an inflection point. Statesman and mere politicians, as the case may be,