Latest Central bank interest rates News

Bank of England asks banks on readiness for negative rates

Oct. 12, 2020 6:48 AM EDT

LONDON (AP) — The Bank of England has asked commercial banks whether they are ready for negative interest rates, signaling that the central bank is moving closer to cutting its key interest rate below zero. If the benchmark rate were cut to less than zero, from the current 0.1%, commercial banks would have...

Turkey hikes rates to support currency, fight inflation

Sep. 24, 2020 8:49 AM EDT

ANKARA, Turkey (AP) — Turkey’s Central Bank raised its benchmark interest rate by 2 percentage points on Thursday, its first hike in two years to fight inflation and support its falling currency. In a surprise move that helped boost the Turkish currency, the Monetary Policy Committee said it had...

People with bicycles pass an outdoor restaurant on a street in the Sodermalm neighbourhood of Stockholm, Thursday, August 20, 2020. (Fredrik Sandberg/TT News Agency via AP)

Swedish central bank sees key interest rate at 0 for years

Sep. 22, 2020 7:07 AM EDT

STOCKHOLM (AP) — Sweden’s central bank on Tuesday kept its main interest rate at zero and said it expects it to remain “at this level in the coming years” due to the economic uncertainty created by the virus pandemic. Riksbanken said its policies and low interest rate had supported the...

FILE - Marble sculptures occupy the pediment above the New York Stock Exchange signage, Tuesday Aug. 25, 2020, in New York.  Stocks are drifting in mixed trading on Wall Street Friday, Sept. 18, as another zig-zag week for markets closes out following their abrupt loss of momentum this month.(AP Photo/Bebeto Matthews, File)

US stocks fall as market decline extends for third week

Sep. 18, 2020 5:30 PM EDT

Wall Street capped another turbulent week of trading Friday with a broad slide in stocks that left the S&P 500 with its third-straight weekly loss. The S&P 500 fell 1.1%, led once again by a sell-off in technology companies, with Apple, Amazon and Alphabet weighing particularly on the market. Technology...

FILE - In this Jan. 3, 2020 file photo, the Wall St. street sign is framed by American flags flying outside the New York Stock Exchange in New York.  Stocks are falling early on Wall Street Thursday, Sept. 17,  as the late selling from the previous day carries over.  (AP Photo/Mary Altaffer, File)

Asia slightly higher despite Wall Street slump, virus fears

Sep. 17, 2020 11:33 PM EDT

TOKYO (AP) — Asian shares were slightly higher Friday despite some investor attention shifting again to the uncertainties in global economies amid the coronavirus pandemic, as reflected in the overnight fall on Wall Street. Japan's benchmark Nikkei 225 was little changed but inched up less than 0.1% in...

Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Sept. 17, 2020. Asian stock markets declined Thursday after the U.S. Federal Reserve indicated its benchmark interest rate will stay close to zero at least through 2023 but announced no additional stimulus plans. (AP Photo/Ahn Young-joon)

Asian stocks retreat on lack of new Fed action

Sep. 16, 2020 11:28 PM EDT

Asian stock markets declined Thursday after the U.S. Federal Reserve indicated its benchmark interest rate will stay close to zero at least through 2023 but announced no additional stimulus plans. Market benchmarks in Shanghai, Tokyo, Seoul and Hong Kong all retreated. Wall Street's benchmark S&P 500 index...

FILE - In this June 30, 2020, file photo Federal Reserve Board Chairman Jerome Powell, reflected in the sneeze guard set up between himself and members of the House Committee on Financial Services, speaks during a hearing on oversight of the Treasury Department and Federal Reserve pandemic response on Capitol Hill in Washington.  The Federal Reserve adjusted its inflation target to seek price increases above 2% annually, a move that will likely keep interest rates low for years to come.  The Fed on Wednesday, Sept. 16,  also left its benchmark short-term rate unchanged at nearly zero, where it has been since the pandemic intensified in March.  (Bill O'Leary/The Washington Post via AP, Pool)

Fed sees rates near zero through 2023, perhaps longer

Sep. 16, 2020 6:55 PM EDT

WASHINGTON (AP) — With the economy still struggling to recover from the pandemic recession, Federal Reserve policymakers signaled Wednesday that their benchmark short-term interest rate will likely remain at zero at least through 2023 and possibly even longer. Fed chair Jerome Powell said at a press...

How major US stock indexes fared Wednesday

Sep. 16, 2020 5:08 PM EDT

Stocks closed lower on Wall Street Wednesday after a brief rally faded in the last hour of trading. Losses by technology companies outweighed gains in banks and elsewhere in the market. The decline snapped a three-day winning streak for the S&P 500, and followed the Federal Reserve’s latest interest...

Federal Reserve to seek inflation over 2%, keeps benchmark interest rate near zero; sees low rates at least through 2023

Sep. 16, 2020 2:01 PM EDT
WASHINGTON (AP) — Federal Reserve to seek inflation over 2%, keeps benchmark interest rate near zero; sees low rates at least through 2023.
A currency trader stands near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, Wednesday, Sept. 16, 2020. Shares were mostly higher in Asia on Wednesday after advances for big technology companies carried Wall Street to further gains overnight. (AP Photo/Lee Jin-man)

Asian shares mostly higher after Wall Street gains

Sep. 15, 2020 11:59 PM EDT

Shares were mostly higher in Asia on Wednesday after advances for big technology companies carried Wall Street to further gains overnight. Benchmarks rose modestly in Tokyo, Hong Kong and Seoul but the Shanghai Composite index was almost flat. Investors are awaiting the outcome of the U.S. Federal Reserve...