Frank Elderson is an important member of the European Central Bank (ECB).
He is worried about cutting interest rates too quickly.
He thinks lowering rates fast could make it harder to control inflation in services.
This could also slow down the economic recovery.
Elderson believes careful decisions are needed to avoid problems.
CHINA'S IMPORTS OF RUSSIAN OIL HIT RECORD HIGH LAST YEAR China’s imports of Russian crude oil rose by 1% in 2024, reaching a record 2.17 million barrels per day. This increase was driven by strong demand from refineries, state-owned oil companies, and a government mandate to
CHINA'S VICE PRESIDENT HAN ZHENG MEETS MUSK AND VANCE, DISCUSSES CHINA-US RELATIONS China’s Vice President Han Zheng met with US Vice President-elect Vance and Tesla CEO Elon Musk in Washington. Han expressed a willingness to work with the US to improve China-US relations. He emphasized that, despite
The stock market went up on Friday, aiming for its first weekly gain of the year. Dow Jones rose by 337 points (0.8%). S&P 500 increased by 1%, and Nasdaq went up by 1.5%. Big tech companies did well: Tesla stock increased by 4.8%. Nvidia
PBOC SETS USD/CNY REFERENCE RATE AT 7.1886 FOR TODAY The People's Bank of China (PBOC) set the USD/CNY reference rate at 7.1886 today. This is lower than the estimated rate of 7.3353. The PBOC manages the daily midpoint of the yuan, allowing it