Word: bankes
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...fine idea: lose it all or win everything back. The lights flashing from his computer screen, the adrenaline, and the late hour made the whole enterprise seem like a video game—with dollars as the points system. How simple it seemed. And yet, how perilous: his entire bank account gone in the time it takes most people to get a good night’s sleep...
Number of countries in 2008 with nominal GDPs smaller than $11 billion, according to the World Bank...
...That possibility is already becoming a reality, as signs appear that central-bank policies are beginning to diverge. On Oct. 6, Australia became the first G-20 nation to raise interest rates, hiking its key rate by a quarter of a percentage point, to 3.25%. With "inflation close to target and the risk of serious economic contraction in Australia now having passed," Reserve Bank of Australia Governor Glenn Stevens said in a statement, the central bank decided that it was now "prudent to begin gradually lessening the stimulus provided by monetary policy." Meanwhile, in other industrialized nations still suffering from...
...still badly in need of investment. Or if too many governments turn off the stimulus tap too quickly, global demand could fall sharply. "An unruly rush to the exits is no better in a global financial crisis than in a crowded theater," wrote Adam Posen, a member of the Bank of England's Monetary Policy Committee, in the Financial Times in September. (See pictures of retailers that have gone out of business...
...gross domestic product grew by a healthy 8.9% in the third quarter, from the same period a year earlier. Inflation in China "will rise faster than in most other major economies and will therefore justify earlier and stronger-than-expected rate hikes," wrote Jun Ma, an economist at Deutsche Bank in Hong Kong, in a September note. Concerns are also mounting that continued loose monetary policy in Asia could fuel dangerous and unstable asset price bubbles, especially in property. There has been some speculation in financial markets that South Korea's central bank could raise interest rates in the coming...