US economy grew at 2.5 percent in second quarter

The US Commerce Department issued a report on Friday showing that the US economy grew less in the second quarter than analysts expected it to. Growth was at an annual rate of 2.5 percent in the April/May/June quarter, lower than the 3 percent that had been expected and much lower than the 5.6 percent […]

Bank of Japan governor announces interest rate hike, says he won’t resign

The Bank of Japan met the expectations of most analysts, voting unanimously to raise interest rates above zero for the first time in six years. The unsecured overnight call rate went from zero to 0.25 percent, while the official discount rate rose from 0.10 percent to 0.40 percent.Along with the rate hikes, the Bank […]

US on track to surpass 2005 trade deficit

The US trade deficit was higher in May than it was in April, but still came in lower than had been anticipated by analysts. The increase from April to May was entirely due, according to reports, to the higher cost of crude oil, which was $4.92 per barrel higher in May than it was […]