Latest Central banking News

Head of India's central bank resigns amid government split

Dec. 10, 2018 8:07 AM EST

NEW DELHI (AP) — The head of India's central bank resigned Monday amid a growing split between the Indian government and the independent monetary policy authority. Reserve Bank of India Gov. Urjit Patel said in a statement posted on the bank's website that he was resigning for personal reasons. The...

Wall Street whiplash: Stocks' volatility looks here to stay

Dec. 7, 2018 6:28 PM EST

NEW YORK (AP) — The stock market hasn't been this dizzying in years, and investors may need to get used to it. The S&P 500 slid 4.6 percent this past week as worries piled up about the economy's strength, global trade and interest rates. It was a whiplash-inducing reversal from the prior week, when the...

Stocks drop 4 percent in rocky week on trade, growth worries

Dec. 7, 2018 6:25 PM EST

Wall Street capped a turbulent week of trading Friday with the biggest weekly loss since March as traders fret over rising trade tensions between Washington and Beijing and signals of slower economic growth. The latest wave of selling erased more than 550 points from the Dow Jones Industrial Average, bringing its...

US hiring pullback could signal mild slowdown in growth

Dec. 7, 2018 4:29 PM EST

WASHINGTON (AP) — U.S. job growth declined modestly in November, a move that could signal a slower but still steady pace of hiring and growth next year. The potential for a more anemic economy contributed to a sharp drop in the stock market Friday, sending the Dow Jones average down 560 points, or 2.2%, by...

Fed chairman says central bank concerned about rural poverty

Dec. 6, 2018 7:04 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says the U.S. economy overall is strong but many rural areas are falling farther behind. Powell says unemployment in the poorest rural counties is more than double the national average last year, while those employed or looking for jobs in their...

Fed survey cites rising concerns about trade tariffs

Dec. 5, 2018 4:42 PM EST

WASHINGTON (AP) — The Federal Reserve said Wednesday that the U.S. economy was growing in the fall, but there were concerns about higher tariffs from a widening trade war, rising interest rates and tight labor markets. In its latest report on economic conditions around the country, the Fed said that most...

Fed Chairman Powell says economic challenges remain

Dec. 3, 2018 8:42 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Monday that despite solid economic progress, the country still faces a number of challenges ranging from slow wage-growth for lower-income workers to sluggish productivity and an aging population. Powell said in remarks at a Fed award ceremony...

World shares drift lower ahead of Trump-Xi meeting at G-20

Nov. 30, 2018 7:23 AM EST

LONDON (AP) — Global stock markets drifted lower Friday ahead of a meeting between Presidents Donald Trump and Xi Jinping at the Group of 20 summit this weekend. KEEPING SCORE: In Europe, Germany's DAX fell 0.6 percent to 11,233 while France's CAC40 was down 0.5 percent at 4,981. Britain's FTSE 100 was 0.7...

Eurozone inflation eases as oil prices slump

Nov. 30, 2018 5:56 AM EST

LONDON (AP) — The recent fall in oil prices has pushed down inflation across the 19-country eurozone, official figures showed Friday in a development that makes it even less likely that the European Central Bank will start raising interest rates anytime soon. Eurostat, the European Union's statistics...

Asia shares mixed ahead of Trump-Xi meeting at G-20 summit

Nov. 30, 2018 12:07 AM EST

BANGKOK (AP) — Share prices were mixed Friday in Asia ahead of the planned meeting by Presidents Donald Trump and Xi Jinping at the Group of 20 summit this weekend. KEEPING SCORE: Japan's Nikkei 225 index climbed 0.4 percent to 22,348.56 and the Hang Seng in Hong Kong added 0.7 percent to 26,633.88. The...