Latest Monetary policy News

FILE - In this Nov. 11, 2019 file photo, Riad Salameh the governor of Lebanon's Central Bank, listens to a journalist's question during a press conference, in Beirut, Lebanon. Salameh was touted as the guardian of Lebanon’s monetary stability as he steered the tiny country's finances through post-war recovery and various bouts of unrest for nearly three decades. Now, Lebanon’s long-serving central bank governor is being called a “thief” by some protesters, who accuse him of being part of the ruling elite whose corruption and mismanagement has driven the country to the edge of bankruptcy. (AP Photo/Hussein Malla, File)

Lebanon crisis brings mixed legacy for central bank governor

May. 28, 2020 2:14 AM EDT

BEIRUT (AP) — Touted as the guardian of Lebanon’s monetary stability, he steered the tiny country's finances for nearly three decades, through post-war recovery and bouts of unrest. Now, Lebanon’s central bank governor is being called a “thief” by some anti-government...

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,...

An anti-government protester shouts slogans, while wearing a mask to help curb the spread of the coronavirus, during ongoing protests in front of the Ministry of Economy, in downtown Beirut, in Beirut, Lebanon, Monday, May 18, 2020. (AP Photo/Hassan Ammar)

Lebanese Central Bank official charged in currency probe

May. 18, 2020 1:57 PM EDT

BEIRUT (AP) — A Lebanese prosecutor on Monday charged a senior central bank official with manipulation of the exchange rate and money laundering as part of an ongoing probe amid the country's financial turmoil. The move reflects a growing clash between the central bank and the government at a critical...

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...

Lebanese riot police wear masks to help curb the spread of the coronavirus, as they stand guard in front the central bank building, where the anti-government protesters protest against the Lebanese central bank's governor Riad Salameh and against the deepening financial crisis, in Beirut, Lebanon, Thursday, April 23, 2020.   (AP Photo/Hussein Malla)

Lebanon central bank official detained over currency probe

May. 15, 2020 12:00 PM EDT

BEIRUT (AP) — A top Lebanese central bank official has been detained pending investigation into the country’s financial crisis, including the free fall of the Lebanese currency, a judicial official said Friday. Lebanon's financial prosecutor ordered the detention of Mazen Hamdan, the head of cash...

FILE - In this file photo dated Wednesday, March 11, 2020, Pedestrians wearing face masks pass the Bank of England in London.  In forecasts published Thursday May 7, 2020, The Bank of England has warned that the British economy could be nearly a third smaller by the end of the first half of this year as a result of the coronavirus pandemic, but also notes the economy could revive quickly. (AP Photo/Matt Dunham, FILE)

UK economy forecast to shrink by most since 1706

May. 7, 2020 1:10 PM EDT

LONDON (AP) — The Bank of England warned Thursday that the British economy could suffer its deepest annual contraction since the Spanish War of Succession a little over three centuries ago as a result of the coronavirus pandemic, before roaring back next year. In what it describes as a...

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...