Latest Central bank interest rates News

FILE - In this Aug. 7, 2019, file photo, Reserve Bank of India (RBI) Governor Shaktikanta Das speaks during a press conference in Mumbai, India. India’s central bank on Friday, May 22, 2020, cut its key interest rate to 4% to revive the economy severely hit the coronavirus outbreak and a two-month lockdown. Reserve Bank of India Governor Das also said India's gross domestic product in financial 2020-21 was expected to have negative growth.  (AP Photo/Rajanish Kakade, File)

India's central bank cuts lending rate to 4% to aid economy

May. 22, 2020 11:05 AM EDT

NEW DELHI (AP) — India’s central bank on Friday cut its key interest rate to 4% to counter the blow to the economy from the coronavirus pandemic and a lockdown meant to contain it. Reserve Bank of India Governor Shaktikanta Das forecast that the economy will contract in fiscal 2020-21. He did not...

FILE - This Jan. 14, 2010, file photo, shoes The Federal Reserve Building in Washington.  Federal Reserve officials last month worried about the coronavirus pandemic's toll on the U.S. economy, especially its impact on the most vulnerable, expressing fears that a large number of small businesses may not be able to survive the shock. Minutes of the Fed’s April 28-29 2020 meeting released Wednesday, May 20,  showed that Fed officials fully supported continuing to keep the central bank's benchmark interest rate at a record low near zero. (AP Photo/Alex Brandon, File)

Fed officials worried in April about toll of deep recession

May. 20, 2020 3:42 PM EDT

WASHINGTON (AP) — Federal Reserve officials last month worried about the coronavirus pandemic's toll on the U.S. economy, especially its impact on the most vulnerable, expressing fears that a large number of small businesses may not be able to survive the shock. Minutes of the Fed’s April 28-29...

Treasury Secretary Steven Mnuchin wears a mask as he walks on the grounds of the White House, Thursday, May 14, 2020, in Washington. (AP Photo/Alex Brandon)

Report: Treasury fund to ease virus crisis off to slow start

May. 18, 2020 6:44 PM EDT

WASHINGTON (AP) — The Treasury Department and Federal Reserve have lent hardly any money under a $500 billion fund created by the economic rescue law passed in response to the coronavirus crisis, a congressional oversight panel says in a new report. The Treasury fund is being used to guarantee new,...

FILE - In this Tuesday, March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. Federal Reserve Chair Jerome Powell expressed optimism Sunday, May 17, 2020 that the U.S. economy can begin to recover from a devastating recession in the second half of the year, assuming the coronavirus doesn't erupt in a second wave. But he suggested that a full recovery won't likely be possible before the arrival of a vaccine.. (AP Photo/Jacquelyn Martin, File)

Powell: Recovery may begin by summer, will likely be slow

May. 17, 2020 7:33 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell expressed optimism Sunday that the U.S. economy can begin to recover from a devastating recession in the second half of the year, assuming the coronavirus doesn't erupt in a second wave. But he suggested that a full recovery won't likely be possible...

In this Wednesday, April 29, 2020 photo a man walks in front of the European Central Bank in Frankfurt, Germany. The European economy shrank by 3.8% in the first quarter, the most since records began, as business activity was frozen by shutdowns aimed at preventing the spread of the coronavirus. It was the biggest drop since statistics started in 1995 and bigger than the plunge in the midst of the global financial crisis in the first quarter of 2009 after the bankruptcy of U.S. investment bank Lehman Brothers. (AP Photo/Michael Probst)

With European economy in record drop, central bank gives aid

Apr. 30, 2020 9:58 AM EDT

FRANKFURT, Germany (AP) — The European Central Bank is stepping up its efforts to cushion the economy against a record downturn that the bank's president, Christine Lagarde, said was “of a magnitude and speed that are unprecedented in peacetime.” The monetary authority for the 19 countries...

A man rides a bicycle in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Thursday, April 30, 2020. Asian shares advanced on Thursday, riding a wave of optimism about a possible treatment for the coronavirus that set off a rally on Wall Street powerful enough to override data showing the U.S. economy had logged its worst quarterly performance since 2009. (AP Photo/Eugene Hoshiko)

Asian shares rise on hopes for drug to treat coronavirus

Apr. 29, 2020 11:48 PM EDT

TOKYO (AP) — Asian shares advanced on Thursday, riding a wave of optimism about a possible treatment for the coronavirus that set off a rally on Wall Street powerful enough to override data showing the U.S. economy had logged its worst quarterly performance since 2009. Japan's benchmark Nikkei 225 surged...

FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington.  The Federal Reserve said Friday, April 24,  it had $85.8 billion in loans outstanding last week in three of the programs it rolled out last month to protect the economy during the coronavirus pandemic.   (AP Photo/Jacquelyn Martin, File)

Fed signals it will likely hold rates near zero for months

Apr. 29, 2020 6:06 PM EDT

WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it will keep its key short-term interest rate near zero for the foreseeable future as part of its extraordinary efforts to bolster an economy that is sinking into its worst crisis since the 1930s. Chairman Jerome Powell noted the gravity of the...

FILE - In this March 25, 2020 file photo,  a closed sign hangs in the window of a shop in Portsmouth, N.H., due to caronavirus concerns.  The Federal Reserve is taking additional steps to provide up to $2.3 trillion in loans to suport American households and businesses as well as local governments as they deal with the coronavirus. The Fed said Thursday, April 9,  among the actions it is taking is the activation of a Main Street Lending Program that was authorized by the $2.3 trillion economic relief bill pass by Congress last month. (AP Photo/Charles Krupa, File)

A new $2.3 trillion Fed plan to aid localities and companies

Apr. 9, 2020 3:05 PM EDT

WASHINGTON (AP) — The Federal Reserve unleashed a new series of moves Thursday to try to make loans available to states, localities and companies that have been hard hit by the coronavirus. In doing so, the Fed will pump an additional $2.3 trillion into the U.S. economy. The central bank, in part, is...

FILE - In this Tuesday, March 3, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. In a series of sweeping steps, the U.S. Federal Reserve will lend to small and large businesses and local governments as well as extend its bond buying programs.  The announcement Monday, March 23 is part of the Fed's ongoing efforts to support the flow of credit through an economy ravaged by the viral outbreak.  (AP Photo/Jacquelyn Martin, File)

Fed steps in once again to try to smooth out lending markets

Mar. 31, 2020 9:49 AM EDT

WASHINGTON (AP) — The Federal Reserve is intervening once again to try to smooth out the world's lending markets, this time by lending dollars to other central banks in exchange for Treasurys. The Fed's move Tuesday marks its latest aggressive effort to keep borrowing rates down and ensure that financial...

Roads are seen deserted during a lockdown in Greater Noida, a suburb of New Delhi, India, Thursday, March 26, 2020. Some of India's legions of poor and people suddenly thrown out of work by a nationwide stay-at-home order began receiving aid distribution Thursday, as both the public and private sector work to blunt the impact of efforts to curb the coronavirus pandemic. Untold numbers of them are now out of work and many families have been left struggling to eat. (AP Photo/Altaf Qadri)

India's central bank cuts benchmark rate to decade-low 4.4%

Mar. 27, 2020 1:42 AM EDT

NEW DELHI (AP) — India’s central bank on Friday cut its key interest rate by a sizable 75 basis points to 4.4% from 5.15% to ease financing troubles caused by the coronavirus outbreak and help revive the economy. That’s the lowest benchmark rate the Reserve Bank of India has charged on...