A look at economic developments and activity in major stock markets around the world Wednesday:

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TOKYO _ Japan's prime minister and central bank chief vowed to step up cooperation in their effort to pull the nation out of deflation.

They held talks a day after the central bank announced a decision to further ease monetary policy by massaging the economy with cheap loans, amid government pressure to respond to a surging yen and falling prices.

Prime Minister Yukio Hatoyama said after the talks that he and Bank of Japan Gov. Masaaki Shirakawa pledged to "take action quickly while sharing the notion that the government and the BOJ need to pull (Japan) out of deflation."

The yen has surged in recent days, and government officials have criticized the central bank as too complacent. The bank has also been under pressure to do something about deflation after months of falling prices.

Before the meeting, the Bank of Japan announced that it was supplying 1 trillion yen ($11.4 billion) into the short-term money market in a one-time injection, in line with the latest monetary easing measure.

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BRUSSELS _ European Union countries agreed on the powers being given to new financial oversight agencies after an intense debate that pitted France and Germany's tighter regulatory traditions against Britain's more hands-off approach.

The final form of an agreement struck between EU nations was a compromise. It says that national supervisors could be overruled as a last resort, if the EU order is backed by the majority of EU governments.

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UNITED NATIONS _ The United Nations forecast that the world economy will bounce back in 2010 with a global growth rate of 2.4 percent, but it warned that the recovery will be fragile.

The U.N. credited the massive fiscal stimulus measures by governments worldwide since late 2008 for the expected rebound. It recommended that these stimulus measures continue _ at least until there are clearer signals of a more robust recovery.

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North Korea's surprise decision to revalue its currency sparked panic and despair among merchants left with piles of worthless bills, even driving one couple to suicide, activists said.

North Korea informed citizens and foreign embassies Monday that it would revalue its national currency, the won, diplomats said. Residents in the reclusive communist country were told they have until Sunday to exchange a limited amount of the old bills into new ones, they said.