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China's Currency Reserves Plunged

China's foreign currency reserves plunged by $99.5bn in January, the People's Bank of China reported. China has been running down its vast foreign currency reserves in an attempt to boost the value of its own currency and stem a flow of funds overseas. At $3.23 trillion, China still has the world's biggest reserve of foreign currency holdings. But

Falling Oil Prices Good For UK Economy

The fall in oil prices has been a 'net good' for the economy, Bank of England deputy governor Ben Broadbent has said. He said that falling oil prices had helped to push up wages in real terms. Mr Broadbent also said the UK was enjoying a 'solid' recovery but he added there was 'no great urgency' to put up interest rates. Oil prices have fallen by

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