Latest Central bank interest rates News

Asian stocks down after Fed says ready to act on inflation

Nov. 24, 2021 22:50 PM EST

BEIJING (AP) — Asian stock markets fell Thursday after Federal Reserve officials indicated they were ready to raise interest rates sooner than expected if needed to cool inflation. Market benchmarks in Shanghai, Hong Kong, Seoul and Sydney declined. Tokyo advanced. ...

Americans are spending but inflation casts pall over economy

Nov. 24, 2021 18:41 PM EST

WASHINGTON (AP) — Americans are doing the main thing that drives the U.S. economy — spending — but accelerating inflation is casting a pall. A raft of economic data issued Wednesday showed the economy on solid footing, with Americans’ incomes rising and jobless...

Fed officials express resolve to address inflation risks

Nov. 24, 2021 17:27 PM EST

WASHINGTON (AP) — Federal Reserve officials in discussions earlier this month said the central bank “would not hesitate” to take appropriate actions to address inflation pressures that posed risks to the economy. In minutes released Wednesday of the Fed's Nov. 2-3...

Asia stock markets decline amid inflation, oil price worries

Nov. 23, 2021 23:53 PM EST

TOKYO (AP) — Asian shares fell Wednesday as worries about inflation set off expectations the U.S. Federal Reserve might raise interest rates. Japan's Nikkei 225 dropped 1.1% to 29,436.73 in early trading, following a national holiday Tuesday. South Korea's Kospi slipped...

Turkish lira plunges after Erdogan defends rate cuts

Nov. 23, 2021 13:00 PM EST

ANKARA, Turkey (AP) — The Turkish currency weakened by some 10% against the U.S. dollar Tuesday, a day after President Recep Tayyip Erdogan insisted there would be no turning back from his unconventional policy of cutting interest rates despite high inflation. The lira...

Fed's Powell will aim to win a high-stakes bet in 2nd term

Nov. 23, 2021 06:56 AM EST

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell gambled last year that his ultra-low rate policies would help revive an economy that had sunk deep into a pandemic-induced recession. So far, his bet has mostly paid off. Growth and hiring have rebounded faster than...

Biden to keep Powell as Fed chair, Brainard gets vice chair

Nov. 22, 2021 15:18 PM EST

WASHINGTON (AP) — President Joe Biden said Monday he is nominating Jerome Powell for a second four-year term as Federal Reserve chair, endorsing his stewardship of the economy through a brutal pandemic recession in which the Fed's ultra-low rate policies helped bolster confidence and...

Europe's central banker: Not adding to pinch with rate hike

Nov. 19, 2021 09:08 AM EST

FRANKFURT, Germany (AP) — The head of the European Central Bank warned that high oil and gas prices are hitting consumers in the 19 countries that use the euro harder than in other major economies and underlined that the bank won't add to the squeeze by raising interest rates anytime soon....

Pressure on Fed's Powell is rising as inflation worsens

Nov. 18, 2021 13:12 PM EST

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell surely expected to have some breathing room after taking the first step this month to dial back the Fed’s emergency aid for the economy. Just a week later, though, the government reported that consumer prices grew...

Turkey again cuts interest rates, currency hits new low

Nov. 18, 2021 08:30 AM EST

ANKARA, Turkey (AP) — Turkey’s Central Bank cut interest rates again Thursday, a day after President Recep Tayyip Erdogan spoke out against high borrowing rates and raising increasing concerns about the impact of soaring consumer prices on families and businesses. The...