Latest Central bank interest rates News

Dow sinks to 2022 low as recession fears roil world markets

Sep. 23, 2022 17:19 PM EDT

Stocks fell sharply worldwide Friday on worries an already slowing global economy could fall into recession as central banks raise the pressure with additional interest rate hikes. The Dow Jones Industrial Average fell 1.6%, closing at its lowest level since late 2020. The S&P...

How major US stock indexes fared Friday 9/23/2022

Sep. 23, 2022 16:35 PM EDT

Markets sold off around the world on mounting signs the global economy is weakening just as central banks raise the pressure even more with additional hikes to interest rates. The Dow Jones Industrial Average closed at its lowest point of the year Friday. The S&P 500 fell 1.7%,...

How major US stock indexes fared Thursday 9/22/2022

Sep. 22, 2022 16:28 PM EDT

Stocks closed lower on Wall Street, deepening their losses for the week, as central banks around the world raised interest rates to fight inflation. The S&P 500 fell 0.8% Thursday. The Dow Jones Industrial Average fell about half as much, and the Nasdaq composite lost 1.4%. ...

Powell's stark message: Inflation fight may cause recession

Sep. 22, 2022 11:42 AM EDT

WASHINGTON (AP) — The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession. Speaking at a news conference, Chair Jerome Powell acknowledged what many...

Rare bear market in bonds strips investors of safe haven

Sep. 22, 2022 11:11 AM EDT

NEW YORK (AP) — A rare bear market in bonds hasn't gotten much attention, but it may be inflicting more pain on investors than the downturns for stocks, cryptocurrencies and other investments. Investment-grade bonds — those issued by governments and corporations with good credit...

Bank of England raises rates but avoids bolder hike like Fed

Sep. 22, 2022 10:54 AM EDT

LONDON (AP) — The Bank of England raised its key interest rate Thursday by another half-percentage point to the highest level in 14 years, but despite facing inflation that outpaces other major economies, it avoided more aggressive hikes made by the U.S. Federal Reserve and other central banks. ...

Central banks worldwide tighten policies to cool inflation

Sep. 22, 2022 10:23 AM EDT

The U.S. Federal Reserve has been the most aggressive in using interest rate hikes to cool inflation that is battering both households and businesses this year. This week, central banks from Asia to England followed suit to varying degrees and using different economic tools to tame rising prices...

More Americans apply for jobless aid last week

Sep. 22, 2022 08:59 AM EDT

WASHINGTON (AP) — The number of Americans filing for jobless benefits rose slightly last week with the Federal Reserve pushing hard to cool the economy and tamp down inflation. Applications for unemployment benefits for the week ending Sept. 17 rose by 5,000 to 213,000, the Labor...

Turkey's central bank makes big rate cut amid 80% inflation

Sep. 22, 2022 08:50 AM EDT

ISTANBUL (AP) — Turkey’s central bank delivered another massive interest rate cut Thursday despite eye-popping inflation above 80%, moving the opposite way from world economies that are raising rates to control prices as the lira sunk to record lows. The Central Bank of the...

UK central bank raises key interest rate by half a point, in seventh straight hike aimed at taming soaring inflation

Sep. 22, 2022 07:10 AM EDT
LONDON (AP) — UK central bank raises key interest rate by half a point, in seventh straight hike aimed at taming soaring inflation.