Tuesday, May 23, 2006

Quick Overview

  • U.S. Consumer confidence hit a six-month low in the latest week, pushed down by high gasoline prices and a rise in broader inflation, ABC News and the Washington Post said on Tuesday.

  • The Bank of Japan should stick to its policy of guiding key short-term rates near zero percent until inflation is sufficiently high to avoid the risk of renewed deflation, the OECD said in a semi-annual report on Tuesday.

  • Standard & Poor's raised its outlook on Japan's long-term sovereign rating to positive from stable on Tuesday, citing improved economic and fiscal prospects.

  • Chile's economy grew at an annual pace of 5.1 percent during the first quarter.

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