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Federal Reserve looks at new ways to measure US economy as UK growth exceeds expectations

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Federal Reserve looks at new ways to measure US economy as UK growth exceeds expectations

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In this week’s Business Weekly we look at the latest moves coming out of the US Federal Reserve. In addition to its continued cuts to the country’s stimulus plan, the central bank also said it would modify the way it measures the strength of the US economy, no longer using the jobless rate as a definitive yardstick. Instead, the Fed will rely on a wide range of measures in deciding when to raise its current near zero-level interest rates.

In the UK, the Bank of England is not considering any policy changes yet, as the British economy continues to grow faster than anticipated. According to Britain’s finance minister, Chancellor George Osborne, the UK is recovering better than any other country in the world.

The EU’s revamped bail-out fund the European Stability Mechanism received the green light from Germany’s Constitutional Court and EU heads also agreed on how the bloc’s banking union will work. All that in this week’s edition of Business Weekly.