Latest Central banking News

Why markets are worried about suddenly cold Turkey

Aug. 16, 2018 11:57 AM EDT

NEW YORK (AP) — Why are investors around the world so worried about Turkey's economy, when it's smaller than Florida's? Because of the possibility that somebody bigger will be next. Investors have been pulling out of Turkey's markets, sending its stock market and currency plunging. That's making debt that...

Fed rate policy unintentionally pressures emerging economies

Aug. 15, 2018 2:12 PM EDT

WASHINGTON (AP) — President Recep Tayyip Erdogan is blaming the United States for Turkey's financial crisis, ignoring homegrown problems like high debts, raging inflation and his own erratic policies. Yet one of the threats facing Turkey and other emerging-market countries really is made-in-America: By...

How US Fed is unintentionally squeezing developing economies

Aug. 15, 2018 6:46 AM EDT

WASHINGTON (AP) — President Recep Tayyip Erdogan is blaming the United States for Turkey's financial crisis, ignoring homegrown problems like high debts, raging inflation and his own erratic policies. Yet one of the threats facing Turkey and other emerging-market countries really is made-in-America: By...

How US Fed is unintentionally squeezing developing economies

Aug. 15, 2018 3:01 AM EDT

WASHINGTON (AP) — President Recep Tayyip Erdogan is blaming the United States for Turkey's financial crisis, ignoring homegrown problems like high debts, raging inflation and his own erratic policies. Yet one of the threats facing Turkey and other emerging-market countries really is made-in-America: By...

Turkish leader talks big, but can be pragmatic in crises

Aug. 14, 2018 12:39 PM EDT

ISTANBUL (AP) — The man at the center of Turkey's currency crisis and feud with the United States — President Recep Tayyip Erdogan — is unleashing the same combative rhetoric that powered him through other grave challenges in his 16 years as the increasingly authoritarian leader of a key NATO...

Turkey's Erdogan vows US boycott, but diplomats resume talks

Aug. 14, 2018 11:47 AM EDT

ANKARA, Turkey (AP) — Turkey's president appeared to escalate a dispute with the United States that has helped foment a Turkish currency crisis, claiming Tuesday that his country will boycott U.S.-made electronic goods. Behind the scenes, however, diplomats resumed contact to ease tensions. Addressing a...

Asian markets mixed after Wall St falls on Turkey jitters

Aug. 14, 2018 12:25 AM EDT

BEIJING (AP) — Most Asian stock markets were mixed Tuesday after Wall Street declined as Turkey's central bank struggled to contain a currency crisis that is feeding fears about other emerging markets. KEEPING SCORE: The Shanghai Composite Index fell 0.5 percent to 2,771.81 and Hong Kong's Hang Seng lost...

How major US stock indexes fared Monday

Aug. 13, 2018 5:01 PM EDT

U.S. stocks fell further Monday as Turkey's central bank was unable to stop a steep plunge in the nation's currency. That's helping to push the dollar higher, hurting big exporters. On Monday: The S&P 500 index slipped 11.35 points, or 0.4 percent, to 2,821.93. The Dow Jones Industrial Average gave up 125.44...

Markets Right Now: Stocks end lower on Wall Street

Aug. 13, 2018 4:12 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks continued to fall as Turkey's central bank was unable to stop another plunge in the nation's currency. Banks and energy companies fell the most on Wall Street Monday. JPMorgan Chase gave up 1.6 percent and...

Turkey tries to contain crisis but currency keeps falling

Aug. 13, 2018 12:26 PM EDT

ANKARA, Turkey (AP) — Turkey's central bank took action Monday to free up cash for banks as the country grapples with a currency crisis sparked by concerns over President Recep Tayyip Erdogan's economic policies and a trade and diplomatic dispute with the United States. The Turkish lira has nosedived over...