Reserve Bank Of Australia Cuts Cash Rate now at 3.25 percent, U.K. House Prices Fall, Eurozone Producer Prices Rise Sharply On Energy Costs

Global Economy Needs To Create 600 Mln Jobs Over 15 Years: World Bank, The global economy will need to generate around 600 million jobs over a 15-year period just to keep employment rates constant, the World Bank said in a report titled the World Development Report, or WDR, 2013, released on Monday. In the report, WDR Director Martin Rama said more than 620 million young people are neither working nor studying. "Just to keep employment rates constant, the worldwide number of jobs will have to increase by around 600 million over a 15-year period."
Latest economic news from Sidney, Reserve Bank Of Australia Cuts Cash Rate On Weaker Economic Outlook, The Reserve Bank of Australia lowered the benchmark cash rate for a third time this year on Tuesday, citing the weaker economic outlook on the back of recent global developments. The central bank, at the same time, stressed the need to boost demand outside the resources sector. The RBA Policy Board slashed the cash rate by 25 basis points to 3.25 percent, effective October 3. The move followed a 50-basis point cut in May and a 25-basis point reduction in June.
Another bad news for House industry in British, U.K. House Prices Fall Unexpectedly In September, House prices in the U.K. declined unexpectedly in September, after rising in the previous month, as the property market in the recession-hit economy continues to be under pressure from deteriorating sentiment and tight credit conditions. The seasonally adjusted house price index dropped 0.4 percent from August, when it rose a downwardly revised 1.1 percent increase, survey data from mortgage lender Nationwide Building Society revealed
Eurozone member Spanish Unemployment Climbs For Second Month, Unemployment in Spain increased for a second consecutive month in September as a deepening recession and the euro area debt crisis eclipsed the government's efforts to revive the labor market, the latest data from the Labor Ministry showed Tuesday
Latest economic data from Eurozone we reporting, Eurozone Producer Prices Rise Sharply On Energy Costs, Eurozone's producer prices increased at a faster pace in August driven by higher energy prices and left little room for further interest rate reductions from the European Central Bank to prop up the ailing economy