Latest Central bank interest rates News

Mexico's central bank lowers prime rate to 4.5%

Aug. 13, 2020 4:21 PM EDT

MEXICO CITY (AP) — Mexico’s central bank decided Thursday to lower its prime interest rate by a half-point to 4.5% amid a sharp economic downturn and rising inflation due to the coronavirus pandemic. The Bank of Mexico said inflation rose to 3.62% in July. At that level, government 28-day treasury...

FILE - This July 21, 2020 file photo shows The New York Stock Exchange.  Stocks are rebounding in early trading on Wall Street Wednesday, Aug. 12, carrying the S&P 500 back toward the cusp of its record high. The benchmark index was up 1% after the first half-hour of trading and on pace for its eighth gain in nine days.  (AP Photo/Mark Lennihan, File)

Stocks rebound on Wall Street, S&P 500 trades above record

Aug. 12, 2020 5:54 PM EDT

Stocks marched broadly higher on Wall Street Wednesday, briefly nudging the S&P 500 above its all-time closing high set in February, before the coronavirus pandemic led to a historic market plunge. The benchmark index notched a 1.4% gain, its eighth in nine days. It ended within 0.2% of its record high from...

A man lifts his arm as he walks by the New York Stock Exchange, Thursday, July 30, 2020. Stocks are falling on Wall Street Thursday after reports showed that layoffs are continuing at a stubborn pace and that the U.S. economy contracted at a nearly 33% annual rate in the spring. (AP Photo/Mark Lennihan)

Asian benchmarks tumble, looking to earnings, central banks

Jul. 31, 2020 12:16 AM EDT

TOKYO (AP) — Asian shares tumbled Friday as reports showed layoffs of American workers are persisting at high levels after the U.S. economy contracted at a nearly 33% annual pace in the spring, the worst quarter on record. Earnings reports, a gauge of how well businesses are managing the fallout from the...

Currency trader watch computer monitors near the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, Thursday, July 30, 2020. Asian stocks advanced Thursday after the U.S. Federal Reserve left interest rates near zero to support a struggling economy. (AP Photo/Lee Jin-man)

Asian stocks gain after Fed keep US interest rates low

Jul. 29, 2020 11:49 PM EDT

BEIJING (AP) — Asian stocks advanced Thursday after the U.S. Federal Reserve left interest rates near zero to support a struggling economy. Benchmarks in Shanghai, Tokyo, Hong Kong and Seoul all gained. Lower interest rates and investor optimism about a possible coronavirus vaccine have helped global...

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.  Federal Reserve officials are grappling this week with the timing and scope of their next policy moves at a time when the raging viral pandemic has weakened the U.S. economy. No major changes are likely when the Fed releases a statement Wednesday, July 29,  after its two-day policy meeting ends and just before Powell holds a news conference.  (AP Photo/Jacquelyn Martin, File)

Fed sees dim economic outlook as virus squeezes economy

Jul. 29, 2020 5:28 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell warned Wednesday that the viral epidemic is endangering the modest economic recovery that followed a collapse in hiring and spending this spring. As a result, he said, the Fed plans to keep interest rates pinned near zero well into the future. That...

FILE - In this June 30, 2020 file photo, Federal Reserve Chair Jerome Powell testifies during a House Financial Services Committee hearing on the coronavirus response on Capitol Hill in Washington.  The Federal Reserve has opened one of its lending programs to nonprofit groups, including hospitals, educational institutions, and social service organizations. The Fed said Friday, July 17,  that its Main Street Lending Program, which is targeted to mid-sized businesses, will now extend credit to nonprofits with at least 10 employees and endowments of less than $3 billion. (Tasos Katopodis/Pool via AP, File)

Fed wrestles with its next moves as virus stalls US economy

Jul. 29, 2020 12:01 AM EDT

WASHINGTON (AP) — Federal Reserve officials are grappling this week with the timing and scope of their next policy moves at a time when the raging viral pandemic has weakened the U.S. economy. No major changes are likely when the Fed releases a statement Wednesday after its two-day policy meeting ends and...

A woman wearing a face mask stands beneath a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Tuesday, July 28, 2020. Shares advanced in Asia on Tuesday after U.S. stocks resumed their upward march on Wall Street, while the price of gold pushed to nearly $1,970 per ounce. (AP Photo/Vincent Yu)

Asian shares advance after Wall St rally; gold extends gains

Jul. 27, 2020 11:37 PM EDT

MITO, Japan (AP) — Shares advanced in Asia on Tuesday after U.S. stocks resumed their upward march on Wall Street, while the price of gold pushed to nearly $1,970 per ounce. Benchmarks climbed in Hong Kong, Tokyo and Shanghai after the S&P 500 rose 0.7% overnight. Much attention will be focused on a...

This Week: Fed meeting, Apple earns, consumer spending

Jul. 27, 2020 1:10 AM EDT

A look at some of the key business events and economic indicators upcoming this week: THE FED SPEAKS The Federal Reserve delivers an update on interest rate policy and the economy Wednesday. The remarks will follow a two-day meeting of the central bank’s policymakers. The Fed has been confronted with an...

FILE - In this Feb. 13, 2020 file photo, President Donald Trump's nominee to the Federal Reserve, Judy Shelton, appears before the Senate Banking Committee for a confirmation hearing, on Capitol Hill in Washington. In a shift, the Senate Banking Committee is likely to back President Donald Trump's unconventional nomination of  Shelton for the Federal Reserve's Board of Governors in a party-line vote Tuesday, July 21. (AP Photo/J. Scott Applewhite, File)

Senate panel approves Trump's controversial Fed nominee

Jul. 21, 2020 4:00 PM EDT

WASHINGTON (AP) — The Senate Banking Committee on Tuesday approved President Donald Trump's choice of Judy Shelton for the Federal Reserve board of governors on a party-line vote, overcoming widespread questions about her qualifications for the Fed. Committee Chairman Sen. Mike Crapo, Republican of Idaho,...

At sunset, the sky above the Frankfurt skyline and the water of the river Main are colored deep red, Friday, June 19, 2020, in Frankfurt, Germany. (Arne Dedert/dpa via AP)

European Central Bank urges leaders to act on economy

Jul. 16, 2020 10:43 AM EDT

FRANKFURT, Germany (AP) — The European Central Bank hit pause Thursday after deploying massive stimulus measures in recent weeks and urged government leaders to do their part by agreeing on an EU-wide fund to support regions hardest hit by the virus outbreak. ECB President Christine Lagarde said that...