Turkey’s central bank hikes interest rates again in further shift in economic policies

ISTANBUL (AP) — Turkey’s central bank raised its key interest rate by 5 percentage points Thursday, another large but expected hike that signals a continued push toward more traditional economic policies under President Recep Tayyip Erdogan. The bank hiked its policy rate to 30%,...

Biden uses executive power to create a New Deal-style American Climate Corps

WASHINGTON (AP) — After being thwarted by Congress, President Joe Biden will use his executive authority to create a New Deal-style American Climate Corps that will serve as a major green jobs training program. In an announcement Wednesday, the White House said the program will...

Text of the policy statement the Federal Reserve released Wednesday

WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting ended: Recent indicators suggest that economic activity has been expanding at a solid pace. Job gains have slowed in recent months but remain strong, and the unemployment rate has remained...

Online gig work is growing rapidly, but workers lack job protections, a World Bank report says

WASHINGTON (AP) — Online gig work is growing globally, particularly in the developing world, creating an important source of employment for women and young people in poorer countries where jobs are scarce, according to a World Bank report released Thursday. The report estimates the...

Poland's central bank surprises with sharp interest rate cuts despite double-digit inflation

WARSAW, Poland (AP) — Poland's central bank lowered its interest rates by 75 basis points on Wednesday despite the country's double-digit inflation rate. The move prompted concerns that the central bank was wading into politics with a premature rate cut to help the populist governing party ahead...

Global inflation pressures could become harder to manage in coming years, research suggests

JACKSON HOLE, Wyoming (AP) — Rising trade barriers. Aging populations. A broad transition from carbon-spewing fossil fuels to renewable energy. The prevalence of such trends across the world could intensify global inflation pressures in the coming years and make it harder for the...

Turkey's central bank hikes key interest rate to 25% to combat inflation, in a new sign of normalizing economic policy

China says it would welcome a visit by US commerce secretary after imposition of investment controls

BEIJING (AP) — China says it would welcome a visit by U.S. Commerce Secretary Gina Raimondo following the imposition of foreign investment controls by her agency that have stung numerous Chinese companies. Chinese Commerce Ministry spokesperson Shu Jueting did not offer a date,...

Russia's ruble hits its lowest level since early in the war. The central bank plans to step in

LONDON (AP) — The Russian ruble on Monday reached its lowest value since the early weeks of the war in Ukraine as Moscow increases military spending and Western sanctions weigh on its energy exports. It led Russia's central bank to announce an emergency meeting for Tuesday to...

Ruble touches 99 to the US dollar, continuing the Russian currency's monthslong fall

The Russian ruble, which has been steadily losing exchange value in a long fall since the beginning of the year, hit 99 to the dollar in Friday trading, its lowest level since the early weeks of the Ukraine war. In January, the ruble traded at about 66 to the dollar but lost about a...