Latest Central banking News

US stocks slip deeper into a slump as recession fears grow

Sep. 26, 2022 14:25 PM EDT

Stocks fell in afternoon trading on Wall Street Monday and put major indexes deeper into a slump as recession fears grow. The S&P 500 fell 0.8% as of 2:19 p.m. Eastern. The Dow Jones Industrial Average fell 291 points, or 1%, to 29,297. The tech-heavy Nasdaq fell 0.2%. ...

Bank of England fails to reassure markets after pound plunge

Sep. 26, 2022 13:53 PM EDT

LONDON (AP) — The Bank of England sought to reassure financial markets after the British pound touched an all-time low against the U.S. dollar Monday, but its entreaty fell flat for investors concerned about a sweeping package of tax cuts that further jolted a faltering economy that the...

The British pound has taken a tumble. What's the impact?

Sep. 26, 2022 12:22 PM EDT

LONDON (AP) — The pound is taking a pounding. The British currency has taken a plunge, sliding against the U.S. dollar to touch an all-time low. It's a sign of the alarm in financial markets over new Prime Minister Liz Truss' emergency budget measures unveiled last week aimed at...

Boston Fed's Collins says 'modest slowdown' is possible

Sep. 26, 2022 12:03 PM EDT

WASHINGTON (AP) — Susan Collins, the new president of the Federal Reserve Bank of Boston, said Monday that a higher unemployment rate will be needed to bring down inflation from unusually high levels, but also suggested any economic downturn would likely be modest. In her first...

Europe's outlook 'darkening,' ECB head hedges on recession

Sep. 26, 2022 11:52 AM EDT

FRANKFURT, Germany (AP) — The head of the European Central Bank said Monday that the economic outlook “is darkening” and she expects business activity to “slow substantially” in the coming months as high energy and food prices pushed up by the war in Ukraine sap consumer spending power. ...

OECD: War in Ukraine to drag on global economy into 2023

Sep. 26, 2022 09:13 AM EDT

PARIS (AP) — Russia's war in Ukraine and the lingering effects of the COVID-19 pandemic are dragging down global economic growth more than expected and driving up inflation that will stay high into next year, the Organization for Economic Cooperation and Development said Monday in a darkening...

This Week: New home sales, GDP snapshot, consumer spending

Sep. 26, 2022 00:08 AM EDT

A look at some of the key business events and economic indicators upcoming this week: HOUSING MARKET BELLWETHER The Commerce Department releases its August tally of new U.S. home sales Tuesday. Economists project that sales slowed again last month to a...

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%,...

Asian stocks slide for 3rd day on economic growth fears

Sep. 22, 2022 23:26 PM EDT

BEIJING (AP) — Asian stocks fell for a third day Friday after more rate hikes by the Federal Reserve and other central banks to control persistent inflation spurred fears of a possible global recession. Shanghai, Hong Kong, Seoul and Sydney declined. Oil prices edged lower....