OECD cuts 2005 growth estimates

Article Abstract:

The Organization of Petroleum Exporting Countries is predicting that oil prices, which have already had a negative effect on the world's major economies, will continue to slow growth in the United States, Europe, and Japan. Consequently, it has reduced its growth forecasts to 1.9% from 2.4% for euro-zone countries, to 3.3% from 3.7% for the United States, and to 2.1% from 2.8% for Japan.

United States, Japan, Organization of Petroleum Exporting Countries, Organization of the Petroleum Exporting Countries, Global economy

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ECB signals rates won't budge

Article Abstract:

Unlike central banks in other major economies, the European Central Bank is planning to leave its interest rate unchanged. The rate is is currently at a post-World War II low and the bank has not changed it since June of 2003. Aware that high oil prices may threaten quarterly growth and inflation rates , the bank is calling on oil exporters to exert care in setting prices.

Comment:

Unlike central banks in other major economies, the European Central Bank is planning to leave its interest rate unchanged.

Government expenditures, Interest Rates, Labor Distribution by Employer, Economic policy, Statistics, Inflation (Finance), European Union. European Central Bank, Inflation (Economics)

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Cost of oil could slow growth

Article Abstract:

The strengthening of the US dollar has increased the cost of Euro-denominated oil, leading to concerns about increased costs and decreased consumer confidence.

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