Iran's current five-year development plan foresees a gradual cut in key interest rates to 10 percent or less by 2010. A rate reduction is viewed in some government circles as a desirable end in itself, given Islam's prohibition on usury and related practices; they also see it as a means of curbing inflation.

Alarm is growing in Asia over the rapid rise of China's stock market. As VOA's Heda Bayron reports from Hong Kong, bankers and business executives are warning it may be a bubble waiting to burst.

India's racing economic growth has hit some roadblocks. Interest rates have been raised, repeatedly, yet inflation continues to run high, raising fears that the economy is overheating. From New Delhi, Anjana Pasricha reports on how consumers and industries in one of the world's fastest-growing economies are coping.

The rupee depreciated sharply to close above 41-mark at 41.28/30 against US currency on the back of hectic dollar short-coverings and firm dollar overseas amid weak capital markets.

Inflation in India has come down to 5.77 per cent for the week ended April 21, 2007, as compared to 6.09 percent for the previous week while the Finance Minister of India has promised new Income Tax Code as Parliament clears Finance Bill.

Leading market participants from the buy- and sell-side across Europe will discuss the evolution of the global inflation market at CME's second annual European Inflation Summit on Tuesday, 15 May, 2007 at the Clothworkers' Hall, London. The Summit follows 2006's successful inaugural event, hosted by CME, the world's largest and most diverse futures exchange.

Economic growth in the United States has slowed in recent quarters, reflecting in part the economy's transition from the rapid rate of expansion experienced over the preceding years to a more sustainable pace of growth. Real gross domestic product (GDP) rose at an annual rate of roughly 2 percent in the second half of 2006 and appears to be expanding at a similar rate early this year.

U.S. Federal Reserve Chairman Ben Bernanke and his colleagues are still worried about inflation, even while hinting that an interest rate cut may be needed to help boost a weak economy.