The slowdown in growth, which the commission attributed to currency appreciation in some countries and a fall in demand, means jobless rates are likely to decline at a slower-than-expected pace compared with the start of the year.
42.
Constant currency appreciation forces the export industries in these countries to improve continuously and to move aggressively up the ladder of value, following economic strategies that have undergirded post-World War II miracles in both Japan and Germany.
43.
Robin Clements, economist at SBC Warburg, said in a report that the central bank is telling markets that the mix of short-term interest rates and domestic currency " had not adjusted appropriately for the recent currency appreciation ."
44.
The company said currency appreciation in its two biggest markets, combined with a strong operational performance, bumped its net profit up 52 percent to 4 . 54 billion pesos for the second quarter on sales of 19 . 69 billion pesos.
45.
Elsewhere, Russia's plans to tie its currency more closely to the euro than ever before in 2005 were termed by analysts as a largely cosmetic move designed to make it easier for the central bank to meet its self-imposed targets regarding currency appreciation.
46.
The central bank was buying the U . S . currency because exporters were complaining of the speed of Taiwan's recent currency appreciation, and to replenish foreign reserves spent defending the Taiwan dollar during its recent fall, said a dealer at a European bank.
47.
On 6 September 2011, the Swiss franc effectively switched to a euro peg : the Franc had always floated independently until its currency appreciation became unsustainable during the peg involved a minimum exchange rate of 1.20 francs to the euro, with no upper bound in place.
48.
The nearly 10 percent rise in the value of the euro against the U . S . dollar since December 2002 has increased the opportunity and the need for an additional ECB cut as the currency appreciation tends to limit both inflation growth and export activity,
49.
"A rate cut takes some of the steam out of currency appreciation, " said Hank Morris at Industrial Research and Consulting in Seoul . " If U . S . interest rates are rising, investors may be better off having their funds in dollars rather than won . " The Federal Reserve raised its rate from 1.75 percent to 2 percent on Wednesday.
50.
"A rate cut takes some of the steam out of currency appreciation, " said Hank Morris at Industrial Research and Consulting in Seoul . " If U . S . interest rates are rising, investors may be better off having their funds in dollars rather than won . " The Federal Reserve raised its rate from 1 . 75 percent to 2 percent on Wednesday.
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