Latest Central banking News

Banks to see big profits as COVID 'bad' loans become 'good'

Apr. 14, 2021 11:03 AM EDT

NEW YORK (AP) — The nation’s largest banks are expected to report big profits for the first quarter amid renewed confidence that pandemic-battered consumers and businesses can repay their debts and start borrowing again. The brighter outlook allows banks to move...

Fed leaders agree: Economics has a racial-disparity problem

Apr. 13, 2021 18:28 PM EDT

WASHINGTON (AP) — Top Federal Reserve policymakers on Tuesday underscored their concern that Black and Hispanic people are sharply underrepresented in the economics field, which lessens the perspectives that economists can bring to key policy issues. “If we don’t...

Syrian leader sacks Central Bank chief amid currency crash

Apr. 13, 2021 10:44 AM EDT

BEIRUT (AP) — President Bashar Assad sacked the governor of war-ravaged Syria’s Central Bank on Tuesday amid a crash in the currency in recent months. State media did not give a reason for the removal of Hazem Qarfoul from the post he held since late 2018. The Syrian...

Asian shares decline on vaccine, virus worries

Apr. 12, 2021 00:10 AM EDT

BANGKOK (AP) — Asian shares were lower on Monday, as investors grew wary over the recent surge in coronavirus cases in many places while vaccination efforts are making scant headway. Shares fell in Tokyo, Shanghai, Hong Kong and Sydney. The...

Fed's Powell sees US boom ahead, with COVID still a risk

Apr. 11, 2021 20:00 PM EDT

WASHINGTON (AP) — The U.S. economy is poised for an extended period of strong growth and hiring, the chair of the Federal Reserve said in an interview broadcast Sunday, though the coronavirus still poses some risk. Chair Jerome Powell, speaking to CBS' “60 Minutes,"...

Fed's Powell: US nears full reopening to 'different economy'

Apr. 08, 2021 15:21 PM EDT

WASHINGTON (AP) — The U.S. economy, boosted by quickening vaccinations and signs of rapid hiring, is headed toward a strong recovery, Federal Reserve Chair Jerome Powell said Thursday. But he cautioned that not all will immediately benefit. ...

Eastern Caribbean dollar goes digital, a help for unbanked

Apr. 08, 2021 14:49 PM EDT

SAN JUAN, Puerto Rico (AP) — The Eastern Caribbean has created its own form of digital currency meant to help speed transactions and serve people without bank accounts. The Eastern Caribbean Central Bank said its “DCash” is the first such blockchain-based currency...

Fed in March saw brighter outlook, yet underscored patience

Apr. 07, 2021 16:52 PM EDT

WASHINGTON (AP) — Federal Reserve officials were encouraged last month by evidence the U.S. economy was picking up, but they showed no sign of moving closer to ending their bond purchases or lifting their benchmark short-term interest rate from nearly zero. Fed...

UN experts pull back on corruption claims against Yemen

Mar. 29, 2021 21:48 PM EDT

UNITED NATIONS (AP) — The U.N. panel of experts monitoring sanctions against Yemen has pulled back from its claims of corruption and money laundering by the government, central bank and a United Arab Emirates-based holding corporation, saying a preliminary review of new information has...

Fed says restrictions on bank dividends and buybacks to end

Mar. 25, 2021 19:14 PM EDT

WASHINGTON (AP) — The Federal Reserve said Thursday that as of June 30 it will end for most banks the temporary limits it had imposed on their ability to make dividend payments and buy back their own stock. The Fed imposed the restrictions last summer, citing the need...