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The bank released a report Tuesday that said global food prices have jumped 29 percent in the past year, and are just 3 percent below the all-time peak hit in 2008.
The Bank of England is likely to smooth the way for higher interest rates with its quarterly economic forecasts on Wednesday, to tackle inflation that is currently running at double its 2 percent target.
Tougher global bank capital rules will barely hinder economic growth, said a study on Wednesday, casting doubt on claims from the banking sector they would result in a credit squeeze that would derail economic recovery.
The tax increases proposed in the president’s budget and its accompanying Greenbook are rehashes of provisions the president tried unsuccessfully to get through Congress over the past two years.