Latest Central banking News

FILE - This May 22, 2020, file photo shows the Federal Reserve building in Washington. A Federal Reserve survey of business conditions around the country has found that the U.S. economy grew at a “slight to modest” pace in September 2020 and early October. (AP Photo/Patrick Semansky, File)

Fed survey finds tepid growth as US economy battles pandemic

Oct. 21, 2020 6:53 PM EDT

WASHINGTON (AP) — A Federal Reserve survey of business conditions around the country found that the U.S. economy grew at a “slight to modest” pace in September and early October, but also documented many areas of economic activity hobbled by the coronavirus pandemic. The Fed report made...

FILE - In this Tuesday Feb. 11, 2020 file photo, Christine Lagarde president of the ECB looks up prior to deliver her speech before the European Parliament's economic and monetary affairs committee at the European Parliament in Strasbourg, France. The head of the European Central Bank says that the economic recovery “risks losing momentum” due to the second wave of coronavirus infections and that the chief monetary authority for the euro countries could add more stimulus if that becomes necessary.  (AP Photo/Jean-François Badias, File)

Europe's central banker: Recovery 'risks losing momentum'

Oct. 19, 2020 5:20 AM EDT

FRANKFURT, Germany (AP) — The head of the European Central Bank says the economic recovery from the coronavirus pandemic “risks losing momentum” due to a second wave of infections and that more stimulus could be added if necessary. “The second wave of the pandemic in Europe, notably...

Bank of England asks banks on readiness for negative rates

Oct. 12, 2020 6:48 AM EDT

LONDON (AP) — The Bank of England has asked commercial banks whether they are ready for negative interest rates, signaling that the central bank is moving closer to cutting its key interest rate below zero. If the benchmark rate were cut to less than zero, from the current 0.1%, commercial banks would have...

An anti-government protester holds a national flag, as she passes in front of Lebanese army soldiers during a protest against rising prices and worsening economic and financial conditions, in Zalka, north of Beirut, Lebanon, Monday, Oct. 5, 2020. Lebanon is passing through its worst economic and financial crisis in decades made worse by the coronavirus pandemic. (AP Photo/Hussein Malla)

Lebanon's outgoing PM rejects end to subsidies amid crisis

Oct. 9, 2020 2:01 PM EDT

BEIRUT (AP) — Lebanon’s outgoing prime minister on Friday adamantly rejected any move to end subsidies of goods in the crisis-hit country, warning it would lead to a “social explosion” as the central bank’s reserves dwindle and the local currency continues to drop, throwing more...

FILE - In this image made from UNTV video, Iranian President Hassan Rouhani speaks in a pre-recorded message which was played during the 75th session of the United Nations General Assembly, Tuesday, Sept. 22, 2020, at UN headquarters.  Iran’s president on Friday, Oct. 9,  is calling on the international community to condemn the Trump administration's latest decision to blacklist Iran’s financial sector.   (UNTV via AP, File)

Iran president calls on world to condemn new US sanctions

Oct. 9, 2020 11:53 AM EDT

TEHRAN, Iran (AP) — Iranian President Hassan Rouhani on Friday called on the international community to condemn the Trump administration's decision to blacklist Iran’s financial sector, the country's official news agency reported. According to the IRNA report, Rouhani said in a phone conversation...

A man wearing a face mask stands near a screen showing the Korea Composite Stock Price Index (KOSPI) at the Korea Exchange in Seoul, South Korea, Thursday, Oct. 8, 2020. Asian shares were mostly higher Thursday on optimism that U.S. stimulus may be coming, as President Donald Trump appeared to reverse his earlier decision to halt talks on another economic rescue effort. (AP Photo/Lee Jin-man)

Asian shares mostly higher on hopes for U.S. stimulus

Oct. 7, 2020 11:43 PM EDT

TOKYO (AP) — Asian shares were mostly higher on Thursday on optimism U.S. stimulus may be coming after all, as President Donald Trump appeared to reverse his earlier decision to halt talks on another economic rescue effort. Japan's benchmark Nikkei 225 added 0.9% to 23,636.35. South Korea's Kospi gained...

Federal Reserve Board Chairman Jerome Powell testifies during a Senate Banking Committee hearing, Thursday Sept. 24, 2020 on Capitol Hill in Washington about the CARES Act and the economic effects of the coronavirus pandemic. (Drew Angerer/Pool via AP)

Fed officials cited risks if Congress fails to pass more aid

Oct. 7, 2020 5:12 PM EDT

WASHINGTON (AP) — Federal Reserve officials expressed concern at their most-recent meeting that the U.S. economy recovery could falter if Congress failed to approve another round of pandemic relief. The Fed on Wednesday released minutes of its most recent meeting, showing that officials believed the...

The Federal Reserve says consumer borrowing fell by $7.2 billion in August as credit card use dropped for 6th month

Oct. 7, 2020 3:15 PM EDT
WASHINGTON (AP) — The Federal Reserve says consumer borrowing fell by $7.2 billion in August as credit card use dropped for 6th month.
Federal Reserve Board Chairman Jerome Powell testifies during a Senate Banking Committee hearing, Thursday Sept. 24, 2020 on Capitol Hill in Washington about the CARES Act and the economic effects of the coronavirus pandemic. (Drew Angerer/Pool via AP)

Fed's Powell: Lack of further stimulus imperils recovery

Oct. 6, 2020 5:39 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell warned Tuesday that a tentative recovery from the pandemic recession could falter unless the federal government supplies additional economic support. Yet hours after Powell's remarks, President Donald Trump announced that he was cutting off talks with...

Control of Venezuelan gold held in London cast into doubt

Oct. 5, 2020 1:12 PM EDT

CARACAS, Venezuela (AP) — A British court on Monday threw into question who controls nearly $2 billion in Venezuelan gold stowed in a London bank vault amid a power struggle between President Nicolás Maduro and his leading rival. The appeals court ruling set aside a British judge’s earlier...