China reports April trade surplus of $10.46bn
Beijing: China has reported a big trade surplus of $10.46 billion in April 2006. The figure is likely to lead to fresh calls from the US to let the yuan rise faster. The surplus reflecting softening import growth was released two days after the U.S. Treasury declared that China was not manipulating the yuan but expressed disappointment that the currency was not floating more freely. China's trade surplus has risen 41.4 percent in the first quarter of 2006 from a year earlier to $23.3 billion.
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US Fed raises rates
Federal The main U.S. interest rate has been raised to 5 per cent and federal policy makers suggested more changes may happen.
The central bank has forecast economic growth to slow from the first quarter's 4.8 per cent annual pace.
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