China’s January inflation eases to 1.5 percent
A spike in China’s inflation eased in January, reducing pressure for Beijing to hike interest rates and cool surging prices as it tries to keep a recovery in the world’s third-largest economy on track.
Consumer prices climbed 1.5 percent over a year earlier, the National Bureau of Statistics reported Thursday. That was down from December’s 1.9 percent rise, the highest rate in nearly two years.
The decline suggested Beijing can put off taking drastic steps such as a rate hike that would have global repercussions if it slowed China’s recovery and cooled rising Chinese demand for imported industrial raw materials and consumer goods.
“The inflation data surprised us because it was a lot lower than the market expected,” said economist Liu Qiyuan of China Merchant Securities. [Read the full article]
European leaders struck a deal to provide financial aid to Greece on Thursday, in an unprecedented move to stave off a broader crisis in the 16-nation bloc that shares the euro single currency.
The details of the package were not expected to be finalized until early next week, when EU finance ministers meet, but the bloc’s leaders suggested it could include some form of loans to Greece to help it service its debt and avoid a damaging default.
As they announced the deal, EU leaders also urged Athens to make deep cuts to its budget deficit to restore confidence in its economy, and the broader euro zone, and prevent its fiscal crisis from spilling over to other high-debt states like Portugal and Spain. [Read the full article]
Company Updated Documents Can Be Used to Help Efficiently Refinance Home Loans At Risk of Default
In response to recent enhancements to the federal government HOPE for Homeowners (H4H) program, Wolters Kluwer Financial Services has updated its comprehensive library of H4H mortgage documents and consumer education materials. Lenders and servicers can use the documents to help more efficiently refinance troubled borrowers existing mortgages into more affordable loans in compliance with the H4H program. [Read the full article]