Latest Central banking News

NY Fed: Auto loan delinquencies at highest point since 2010

Feb. 12, 2019 6:28 PM EST

DETROIT (AP) — Borrowers are behind in their auto loan payments in numbers not seen since delinquencies peaked at the end of 2010, according to the Federal Reserve Bank of New York. More than 7 million Americans were 90 or more days behind on their car loans at the end of last year, 1 million more than...

Fed Chairman Powell says prosperity not felt in all areas

Feb. 12, 2019 4:42 PM EST

ITTA BENA, Miss. (AP) — Federal Reserve Chairman Jerome Powell traveled Tuesday to a historically black university in the Mississippi Delta to deliver a message that the nation's prosperity has not been felt in many such areas around the country. Powell said that many rural areas had been left out and...

Socialist Maduro seeks to raise dollars with appeal to greed

Feb. 11, 2019 9:07 AM EST

CARACAS, Venezuela (AP) — When Jose Humberto Vivas needs to trade dollars for Venezuelan bolivars, he usually flouts the nation's rigid exchange controls by turning to illegal currency traders. But last week, Vivas put a few hundred dollars in his wallet and headed to an exchange house regulated by...

Man fatally shot by Amsterdam police was carrying fake gun

Feb. 7, 2019 11:06 AM EST

AMSTERDAM (AP) — Prosecutors say a man fatally shot by police near the Dutch central bank in Amsterdam was carrying a fake weapon and may have been attempting to incite officers into killing him. Detectives investigating Wednesday night's shooting say the 31-year-old victim was carrying a replica weapon...

Smaller stocks are winning again, but for how long?

Feb. 7, 2019 11:03 AM EST

NEW YORK (AP) — The stock market's biggest gains are once again coming from its smallest companies, but the trend may not last much longer. Smaller-company stocks like Allegiant Travel and AK Steel have been soaring since late December and leading the rest of the market, a sharp reversal from much of the...

World markets fall ahead of EU growth forecasts

Feb. 7, 2019 5:25 AM EST

SINGAPORE (AP) — World stocks were mostly lower on Thursday ahead of the European Commission's economic forecasts. Germany reported its industrial production slipped 0.4 percent in December from the previous month, way below the 0.9 percent gain analysts had expected. The latest data follows a 1.6 percent...

India's central bank surprises with cut in key lending rate

Feb. 7, 2019 4:42 AM EST

NEW DELHI (AP) — India's central bank on Thursday lowered its key interest rate by a quarter of a percentage point to 6.25 percent in a surprise move intended to keep growth on track. The interest rate is what the federal bank charges on lending to commercial banks. Lower interest rates help borrowers but...

Asian markets rise on hopes for interest rate cuts

Feb. 6, 2019 10:53 PM EST

SINGAPORE (AP) — Asian shares were mostly higher Thursday on news that the Reserve Bank of Australia may cut interest rates, driving hopes that other central banks could come to the same conclusion. Markets in China, Hong Kong and Taiwan were closed for Lunar New Year. Philip Lowe, the governor of...

Fed Chairman Powell urges plain speaking at Fed

Feb. 6, 2019 8:31 PM EST

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Wednesday that he has used his first year as chairman to make sure the central bank deserves the trust of the American people, especially at a time when people are losing faith in big institutions. Powell acknowledged that at the moment "we are...

Dutch police kill gunman near Netherlands central bank

Feb. 6, 2019 3:32 PM EST

AMSTERDAM (AP) — A police spokesman in the Netherlands says officers shot and killed an armed man on a street next to the country's central bank. Amsterdam police spokesman Ruben Sprong said the suspect was shot on Wednesday night when he approached officers with the gun. He says a person passing by was...