Latest Central bank interest rates News

Turkey's annual inflation hits new 24-year high at 83.45%

Oct. 03, 2022 03:47 AM EDT

ANKARA, Turkey (AP) — Turkey’s annual inflation reached a new 24-year high of 83.45% in September, according to official data on Monday, pushing the cost of essential goods higher and further hitting households already facing high energy, food and housing costs. The Turkish...

South Florida home prices fall, but key issue remains

Oct. 01, 2022 03:14 AM EDT

MIAMI (AP) — Housing prices fell again last month in Miami-Dade County and dipped for the first time in months in neighboring Broward County, an uplifting sign for aspiring home buyers. Miami-Dade’s median sale price dwindled to $551,250 for a single-family home in August, down...

Brainard warns US rates to stay high, notes global impact

Sep. 30, 2022 13:40 PM EDT

WASHINGTON (AP) — Federal Reserve Vice Chair Lael Brainard said Friday that U.S. interest rates will likely have to remain high for an extended period to combat inflation, capping a week of tough rhetoric by Fed officials. In remarks at a conference hosted by the Federal Reserve...

Resilient US consumers spend slightly more in August

Sep. 30, 2022 13:14 PM EDT

WASHINGTON (AP) — Consumers spent a bit more in August than the previous month, a sign the economy is holding up even as inflation lifts prices for food, rent, and other essentials. Americans boosted their spending at stores and for services such as haircuts by 0.4% in August,...

Inflation hits record 10% in 19 EU countries using euro

Sep. 30, 2022 07:27 AM EDT

FRANKFURT, Germany (AP) — Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of the globe's major economies as higher prices undermine consumers' spending power. ...

India raises interest rate to 5.90% to tame inflation

Sep. 30, 2022 02:37 AM EDT

NEW DELHI (AP) — India’s central bank on Friday raised its key interest rate by 50 basis points to 5.90% in its fourth hike this year and said developing economies were facing challenges of slowing growth, elevated food and energy prices, debt distress and currency depreciation. ...

Asian stocks sink on German inflation, British tax cuts

Sep. 29, 2022 23:53 PM EDT

BEIJING (AP) — Asian stocks sank again Friday after German inflation spiked higher, British Prime Minister Liz Truss defended a tax-cut plan that rattled investors and Chinese manufacturing weakened. Shanghai, Tokyo, Hong Kong and Sydney retreated. Oil prices edged lower. ...

EXPLAINER: How do we know when a recession has begun?

Sep. 29, 2022 13:25 PM EDT

WASHINGTON (AP) — The economy shrank in the first half of this year, the government confirmed in a report Thursday, underscoring fears of a broad-based slowdown that could lead to a recession. At the same time, the number of people seeking unemployment benefits — a figure that...

US economy drops at 0.6% annual rate from April through June

Sep. 29, 2022 10:44 AM EDT

WASHINGTON (AP) — Battered by surging consumer prices and rising interest rates, the U.S. economy shrank at a 0.6% annual rate from April through June, the government announced Thursday, unchanged from its previous second-quarter estimate. It marked the second consecutive quarter...

Fewer people seek US unemployment aid amid solid hiring

Sep. 29, 2022 09:26 AM EDT

WASHINGTON (AP) — The number of Americans filing for jobless benefits dropped last week, a sign that few companies are cutting jobs despite high inflation and a weak economy. Applications for unemployment benefits for the week ending Sept. 24 fell by 16,000 to 193,000, the Labor...