- The Bush administration, facing rising political pressure over the record U.S. trade deficit, on Monday urged China to further liberalize its currency policy but predicted the trade gap would moderate.
- The U.S. labor market may be facing supply constraints that could make efforts to boost job growth with easy monetary policy backfire, Cleveland Federal Reserve Bank President Sandra Pianalto said on Monday.
- Retail sales in the U.K. were up 1.5% in 2005, online retail sales were up 29%.
- The Bank of Japan said that wholesale prices were up 2.7% in January YoY. There is speculation that Japan may shortly end its policy of low interest rates.
- The national average price for self-serve regular unleaded gasoline fell 3 cents to $2.30 a gallon over the past three weeks, according to the latest Lundberg Survey of filling stations released Sunday.
- Syria has switched all the state's foreign currency transactions to Euros from dollars amid a political confrontation with the United States, the head of state-owned Commercial Bank of Syria said on Monday.
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