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And Eurozone leaders are meeting in Brussels tonight to come up with a strategy to confront Europe's worsening debt crisis. But there's already been a setback1 with one of the scheduled meetings cancelled. The finance ministers were going to thrash out recapitalisation plans for Europe's banks. They are now waiting until after tonight's meeting of EU leaders, saying too many other details like Greek bond write-downs need to be decided2 first.
Back home and economists3 are expecting inflation to have dipped over the three months to the end of September. The latest inflation figures will be released today by the Bureau of Statistics. Economists expect inflation to have increased by 0.6 per cent over the quarter and that's down from nearly one per cent in the June quarter.
To the markets, and sadly it hasn't been a great night on Wall Street with the markets now closed, the Dow Jones has lost more than 200 points, a drop of nearly two per cent. The NASDAQ was down 61. The S&P 500 was 25 points lower and across in London the FTSE has closed 23 points weaker.
Checking commodity prices: West Texas Crude is trading at 92 US dollars and 95 cents a barrel. Tapis crude is at 123 US dollars and three cents a barrel. And Gold is at 1708 US dollars and nine cents an ounce.
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1 setback | |
n.退步,挫折,挫败 | |
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2 decided | |
adj.决定了的,坚决的;明显的,明确的 | |
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3 economists | |
n.经济学家,经济专家( economist的名词复数 ) | |
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4 sterling | |
adj.英币的(纯粹的,货真价实的);n.英国货币(英镑) | |
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