The Obama administration on Tuesday bowed to months of growing pressure over a 40-year-old ban on exports of most domestic crude, taking two steps expected to unleash a wave of ultra-light shale oil onto global markets.
Loose global monetary conditions are stoking credit and asset price booms in some emerging markets that could lead to a new financial crisis, the Bank for International Settlements warned on Sunday.
Such a boom-and-bust cycle might have se
Leading central bank policymakers warned on Monday of the threat of resurgent inflation in fast-growing emerging economies and voiced their resolve to keep price pressures in check.
Jean-Claude Trichet, speaking as chair of talks on the gl
Governments must slash budget deficits decisively and central banks should not wait too long to raise borrowing costs as side effects from measures prescribed to tackle the global recession may create the next crisis, the Bank for International Se
International bank lending fell by almost $2 trillion, or 6 percent, during 2009 as the financial crisis continued to restrain credit through to the end of the year, according to the Bank for International Settlements (BIS)
It said lending
More expensive tastes in food and an insatiable economic thirst for oil in fast growing emerging markets are likely to keep commodity prices high, the Bank for International Settlement (BIS) said.
Government subsidies for energy and biofue