Latest Central banking News

FILE - This July 31, 2019, file photo, shows the Federal Reserve logo ahead of the start of a scheduled news conference by Chairman Jerome Powell in Washington. The Federal Reserve says it purchased $1.3 billion in corporate bonds in late June 2020 as part of its effort to keep U.S. interest rates low and ensure large companies can borrow by selling bonds. (AP Photo/Manuel Balce Ceneta, File)

Fed buys more corporate bonds but may soon end purchases

Jul. 10, 2020 7:55 PM EDT

WASHINGTON (AP) — The Federal Reserve said Friday that it purchased $1.3 billion in corporate bonds in late June as part of its effort to keep U.S. interest rates low and ensure large companies can borrow by selling bonds. The Fed bought bonds issued by several hundred large companies, including AT&T,...

A man walks by the Euro sculpture in front of the old the European Central Bank in Frankfurt, Germany, Tuesday, May 5, 2020. Germany's Constitutional Court has ruled that the country's central bank must stop participating in a key European Central Bank stimulus program but gave the ECB time to demonstrate that the stimulus program is needed and appropriate. (AP Photo/Michael Probst)

Croatia, Bulgaria take big step toward joining the euro

Jul. 10, 2020 6:39 PM EDT

FRANKFURT, Germany (AP) — Croatia and Bulgaria took a big step toward joining the shared euro currency Friday, underlining the currency bloc's attraction despite its 2010-2015 debt crisis and the continuing debate about how to strengthen it against possible future trouble. Finance ministers of the 19...

German President Frank-Walter Steinmeier, left, and the former President of the European Central Bank (ECB), Mario Draghi, right, pose for the media at the Bellevue Palace in Berlin, Germany, Friday, Jan. 31, 2020. Mario Draghi has been awarded Germany's highest honor. It was a recognition of his central role in helping preserve Europe's single currency that has met with some criticism in the eurozone's biggest economy.  (Britta Pedersen/dpa via AP)

Pope names Draghi, ex-head of European Central Bank to panel

Jul. 10, 2020 9:48 AM EDT

VATICAN CITY (AP) — Mario Draghi, the former head of the European Central Bank, has been appointed by Pope Francis to a Vatican advisory panel, the Holy See said on Friday. The pontiff named Draghi, 72, as a member of the Pontifical Academy of Social Sciences. An economist who received his doctorate from...

A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Tuesday, July 7, 2020. Asian shares were mixed Tuesday, as some benchmarks were buoyed by an ongoing worldwide rally as investors bet on a dramatic economic turnaround amid ongoing challenges of the coronavirus outbreak. (AP Photo/Vincent Yu)

Asia markets slip as virus outbreaks mute hopes for rebound

Jul. 7, 2020 12:42 AM EDT

TOKYO (AP) — Markets were mostly lower in Asia on Tuesday as expanding coronavirus outbreaks dimmed hopes for a global recovery, despite an overnight rally in tech shares that pushed the Nasdaq composite to another record high. Japan's benchmark Nikkei 225 dropped 0.6% to 22,577.65 and South Korea's Kospi...

Ukraine's parliament accepts chief banker's resignation

Jul. 3, 2020 1:10 PM EDT

KYIV, Ukraine (AP) — Ukraine’s parliament on Friday accepted the resignation of the country’s top banker, who has stepped down citing political pressure. National Bank head Yakiv Smolii submitted his letter of resignation Wednesday, pointing at “systematic political pressure” as...

FILE - In this March 12, 2020 file photo, Venezuelan President Nicolas Maduro speaks during a press conference at the Miraflores Presidential Palace in Caracas, Venezuela. A British judge on Thursday July 2, 2020, refused to give Venezuela control of over $1 billion in gold sitting in a Bank of England vault, ruling that it is unlawful to give it to the President Nicolas Maduro since Britain does not recognize him as the president. Maduro has demanded the gold to help his cash-starved nation fight the coronavirus pandemic. (AP Photo/Matias Delacroix, File)

British judge denies Maduro Venezuela's gold in London bank

Jul. 2, 2020 4:47 PM EDT

LONDON (AP) — A British judge on Thursday refused to give Venezuela's Nicolás Maduro control of nearly $2 billion in gold sitting in a Bank of England vault because Britain does not recognize the socialist leader as president of the Latin American nation. Maduro has demanded the gold to help his...

Ukraine's central banker chief steps down citing pressure

Jul. 2, 2020 10:56 AM EDT

KYIV, Ukraine (AP) — Ukraine's president on Thursday accepted the resignation of the country's top banker, who has complained of political pressure. National Bank head Yakiv Smolii cited “systematic political pressure” as the reason for his decision to step down, but didn't provide any...

FILE - In this May 22, 2020, file photo, the Federal Reserve building is viewed in Washington. Federal Reserve officials last month expressed concerns about the severity of the economic downturn triggered by the coronavirus pandemic. The minutes of the June 9-10 discussions that were made public Wednesday, July 1, 2020, show officials grappling with economic disruptions that had already occurred. (AP Photo/Patrick Semansky, File)

Fed minutes show concerns about severity of downturn

Jul. 1, 2020 5:26 PM EDT

WASHINGTON (AP) — Federal Reserve officials last month expressed concerns about the severity of the economic downturn triggered by the coronavirus pandemic, saying the drop in economic activity in the spring would likely be the steepest in the post-World War II period. The minutes of the June 9-10...

A woman wearing a mask passes the New York Stock Exchange, Tuesday, June 30, 2020, during the coronavirus pandemic. (AP Photo/Mark Lennihan)

Asian shares up after Wall St closes best quarter since 1998

Jul. 1, 2020 12:00 AM EDT

TOKYO (AP) — Asian shares were mostly higher Wednesday after Wall Street capped its best quarter since 1998, shrugging off continued signs of global economic damage from the coronavirus pandemic. Japan's benchmark Nikkei 225 slipped 0.2% to 22,187.27. South Korea's Kospi rose 1.0% to 2,130.14. Australia's...

FILE - In this May 22, 2020, file photo, the Federal Reserve building is viewed in Washington. The Federal Reserve's Main Street lending program is off to a slow start. Banks are showing a surprising lack of interest in the program, while businesses are having a hard time accessing it. (AP Photo/Patrick Semansky, File)

Fed's program for loaning to Main Street off to slow start

Jun. 30, 2020 12:05 AM EDT

WASHINGTON (AP) — Michael Haith, owner and CEO of a Denver-based restaurant chain called Teriyaki Madness, is in an unusual position for people like him: He's making money through food delivery and pickup and wants to borrow funds so he can expand. Yet so far, a Federal Reserve lending program set up...