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...rate to between 1.1% and 1.7% next year from 3.2% to 3.4% this year. "This is a very significant rejection of everything that they've said before," said Jörg Krämer, chief economist at Commerzbank. "There will be a further interest rate cut in January. The main refinancing rate will be below 2% by spring...
...making, the ECB move still seems modest in the face of the economic erosion under way. The Bank of England cut its key rate by one percentage point to 2% today, while Sweden's central bank cut its key rate by 1.75 percentage points. The U.S. Federal Reserve's main lending rate now stands at 1%, the lowest level in five decades...
...Kempff and others in nations such as Belize, Indonesia and Madagascar, are proving the logic of paying to keep forests standing. Supporters are confident that when the world meets for the annual U.N. summit on climate change in Poznan, Poland, this month, avoided deforestation will be one of the main topics of discussion. "This is too important not to be front and center on everyone's minds," says Jake Schmidt, head of international climate policy for the New York City-based Natural Resources Defense Council. "It will be a major focus." For international companies looking to invest in REDD projects...
...main effect of Nov. 27's Status of Forces Agreement between Iraq and the U.S. is clear--complete troop withdrawal by the end of 2011. But with that pullback comes the end of immunity from Iraqi law for U.S. contractors. Private-security employees have been looked upon with increasing disfavor since last fall's shooting of more than a dozen Iraqis by Blackwater guards. It is unclear whether U.S. contractors will be held responsible for any past offenses...
Will it strut or stumble? When U.S. forces began to pull out of Baghdad and into suburban bases in 2005, the vacuum was filled by al-Qaeda bombers and armed Shi'ite and Sunni militants, who fought a two-year civil war. Now, however, the main vectors of sectarian violence have been turned back, weakened or co-opted. Although there has been no meaningful political or social reconciliation between the sects, their representatives in parliament have learned to form expedient alliances, which will doubtless continue as the parties jockey for power in post-occupation Iraq...