Latest Central banking News

Asian stocks tumble after Wall Street skids, China slows

Oct. 18, 2018 11:52 PM EDT

BEIJING (AP) — Asian stock markets sank Friday after Wall Street declined on losses for tech and industrial stocks and Chinese economic growth slowed. KEEPING SCORE: Tokyo's Nikkei 225 index fell 1.1 percent to 22,411.33 and Seoul's Kospi shed 0.3 percent to 2,141.06. The Shanghai Composite Index was flat...

World stock markets mostly dip on Fed views on rates

Oct. 18, 2018 8:37 AM EDT

BANGKOK (AP) — Stock markets mostly dipped on Thursday on the news that some policymakers at Federal Reserve think interest rates should continue to be raised until they are slightly restrictive. KEEPING SCORE: Germany's DAX shed 0.1 percent to 11,704 and the CAC 40 in France gained 0.4 percent to 5,163....

China's yuan sinks further after US currency report

Oct. 18, 2018 7:19 AM EDT

BEIJING (AP) — China's politically sensitive yuan sank to a 22-month low against the dollar on Thursday after the U.S. Treasury declined to label Beijing a currency manipulator amid a mounting tariff battle. The closely watched yuan fell to 6.9411 per dollar at mid-morning, coming its closest to breaking...

Asia shares sag after retreat on Wall St, weaker Japan data

Oct. 18, 2018 12:11 AM EDT

BANGKOK (AP) — Shares fell Thursday in Asia after a retreat on Wall Street driven by sell-offs of technology shares, homebuilders and retailers. A report of weaker Japanese exports in September underscored uncertainties over the outlook for trade. KEEPING SCORE: Japan's Nikkei 225 index sank 0.7 percent to...

Fed officials discussed hiking rates to 'restrictive' level

Oct. 17, 2018 3:43 PM EDT

WASHINGTON (AP) — Federal Reserve officials last month debated how high they should raise interest rates to achieve their economic goals, with some arguing that they might need to lift rates to a level that would modestly restrain growth. In the end, the Fed modestly raised its key short-term rate and...

US regulators lift strict oversight of Prudential

Oct. 17, 2018 11:10 AM EDT

WASHINGTON (AP) — A group of federal regulators on Wednesday lifted the strict government oversight imposed on big insurer Prudential Financial Inc. It was the last financial company still carrying the label that subjected it to special restrictions stemming from the 2008 financial crisis. The unanimous...

UK inflation drop eases central bank dilemma ahead of Brexit

Oct. 17, 2018 6:06 AM EDT

LONDON (AP) — Inflation in Britain eased markedly during September, official figures showed Wednesday, a development that lowers the pressure on the Bank of England to raise interest rates at a time when the country faces acute uncertainty from Brexit. The Office for National Statistics said consumer...

Trump escalates his attacks on Fed: 'My biggest threat'

Oct. 16, 2018 6:02 PM EDT

WASHINGTON (AP) — Stepping up his attacks on the Federal Reserve, President Donald Trump declared Tuesday that the Fed is "my biggest threat" because he thinks it's raising interest rates too quickly. Trump said he doesn't speak with Chairman Jerome Powell because of the Fed's political independence but...

Trump criticizes Fed for raising interest rates too quickly

Oct. 16, 2018 4:38 PM EDT

WASHINGTON (AP) — President Donald Trump is criticizing the Federal Reserve for raising interest rates too quickly. The recent increase in interest rates has spooked investors who fear higher borrowing costs could slow down the economy. Trump has blamed the market's big sell-off on rising rates and has...

Mnuchin says Trump respects the independence of the Fed

Oct. 12, 2018 11:48 AM EDT

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin said Friday that President Donald Trump respects the independence of the Federal Reserve and the president's recent comments were simply a reflection of the fact that he favors low interest rates. "The president has been clear," Mnuchin said in an...