US treasury secretary Henry Paulson said today that the global economy was as strong as he had ever seen and that reforms in China would help lessen the kind of market volatility that had recently rocked international stock markets.

THE Bank of Japan (BOJ) raised its main interest rate yesterday by a quarter percentage point to 0.50%, the highest in more than a decade, but the yen retreated as the central bank signalled caution on further increases.

JAPAN’S central bank raised interest rates for the first time in six years yesterday, lifting its key rate to 0.25% from 0% and affirming the end of a long era of deflation and economic stagnation.

The Bank of Japan has upgraded its economic assessment for the first time since December because of signs that an export-led recovery is spreading to consumers and service companies.

THE Governor of Ireland’s Central Bank is paid at least 57% more than his US counterpart, Federal Reserve chairman Alan Greenspan.