LONDON (Reuters) - A global sell-off knocked world shares to a five-month low on Thursday as surging oil fanned concerns about inflation and slowing growth, ahead of an expected euro zone interest rate hike and a key U.S. jobs report. The gloom was all-pervasive, with Tokyo stocks setting their longest losing streak in more than half a century while the dollar hit a two-month low against the euro. The European Central Bank is set to become the first G7 central bank to raise interest rates since the credit crisis erupted in August. The decision is due at 1145 GMT (7:45 a.m. EDT). At 1230 GMT (8:30 a.m. EDT), ECB President Jean-Claude Trichet gives a news conference and at the same time U.S. non-farm payrolls data are due. More

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Posted by markw, filed under Economy. Date: July 3, 2008, 8:21 am |

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