Latest Central banking News

Malaysia names new central bank governor

Jun. 22, 2018 5:39 AM EDT

KUALA LUMPUR, Malaysia (AP) — Malaysia has named Nor Shamsiah Mohamad Yunus, an experienced former central bank official, as the new central bank governor. Finance Minister Lim Guan Eng said Friday that the king has consented to Nor Shamsiah's appointment to head Bank Negara Malaysia from July 1 for a...

Fed finds biggest US banks strong enough to survive shock

Jun. 21, 2018 7:01 PM EDT

WASHINGTON (AP) — The Federal Reserve says that all of the 35 largest U.S. banks are fortified enough to survive an economic shock and keep on lending. Banks' hypothetical losses from credit cards increased in the latest "stress tests," however. The first round of the central bank's annual stress tests,...

Mexico central bank raises key interest rate to 7.75 percent

Jun. 21, 2018 4:38 PM EDT

MEXICO CITY (AP) — Mexico's central bank has decided to raise its key interbank interest rate to 7.75 percent from 7.5 percent. The bank cited uncertainty around negotiations on the North American Free Trade Agreement and Mexico's upcoming July 1 elections. The peso closed slightly stronger Thursday before...

Central bank chiefs of 4 major nations raise trade concerns

Jun. 20, 2018 1:07 PM EDT

WASHINGTON (AP) — The leaders of the central banks of four major economies expressed alarm Wednesday that multiple trade conflicts are threatening to slow global growth. The officials said at a conference in Portugal that the escalating trade fights involving the United States, China and Europe could erode...

Fed chair signals gradual rate hikes in tame inflation era

Jun. 20, 2018 10:46 AM EDT

WASHINGTON (AP) — The U.S. Federal Reserve will likely keep raising short-term interest rates at only a gradual pace, Fed chair Jerome Powell said Wednesday, partly because there are few signs, so far, that the ultra-low U.S. unemployment rate is pushing up inflation. In a speech in Portugal, Powell said...

Why many Americans aren't benefiting from robust US economy

Jun. 16, 2018 9:53 AM EDT

WASHINGTON (AP) — "The economy," Federal Reserve Chairman Jerome Powell declared this week, "is doing very well." And it is. Steady hiring has shrunk unemployment to 3.8 percent — the lowest since the 1960's. Consumers are spending. Taxes are down. Inflation is tame. Factories are busy. Demand for...

US stocks and bond yields dip amid trade worries

Jun. 15, 2018 6:16 PM EDT

NEW YORK (AP) — U.S. stocks closed out a whirlwind week with a modest loss Friday as markets gauged how much to fret about the Trump administration's decision to step up the trade dispute between the world's two biggest economies. The White House announced tariffs on $50 billion of imports from China, and...

Argentine government reassures investors amid peso fall

Jun. 15, 2018 2:04 PM EDT

BUENOS AIRES, Argentina (AP) — The Argentine government says the appointment of a new central bank chief is intended to generate confidence following a sharp depreciation of the peso. On Thursday, Luis Caputo replaced former Central Bank President Federico Sturzenegger, who presented his resignation to...

Asian stocks mixed after ECB announcement, US data

Jun. 14, 2018 11:20 PM EDT

SEOUL, South Korea (AP) — Asian stock markets were mixed Friday after Wall Street largely finished with gains following the European Central Bank's announcement to phase out its bond-buying stimulus. Upbeat U.S. data helped bolstered sentiment. KEEPING SCORE: Japan's Nikkei 225 added 0.4 percent to...

How major US stock indexes fared Thursday

Jun. 14, 2018 4:58 PM EDT

U.S. stocks mostly rose Thursday, as markets get accustomed to the idea of investing with less of a safety net from central banks around the world. The European Central Bank laid out its plan to pull back from the stimulus it's pumped into markets, but it also said it plans to hold off on raising interest rates...