Latest Central banking News

Inflation ahead? Even a top economist says it's complicated

Jun. 21, 2021 04:37 AM EDT

WASHINGTON (AP) — Two months of sharply rising prices have raised concerns that record-high government financial aid and the Federal Reserve’s ultra-low interest rate policies — when the economy is already surging — have elevated the risk of accelerating inflation. ...

Tottenham repays COVID loan, frees up funds for signings

Jun. 18, 2021 09:33 AM EDT

LONDON (AP) — Tottenham announced Friday it had paid back the 175 million pounds ($243 million) it borrowed from the Bank of England as part of a coronavirus loan scheme, freeing up cash that could help the Premier League club sign players and a new manager. The north...

A look at the candidates in Iran's presidential election

Jun. 18, 2021 01:20 AM EDT

Iranians were voting Friday on who should be the country's next president amid tensions with the West over its tattered nuclear deal with world powers. While the race is wide open due to President Hassan Rouhani being term limited from running again, authorities barred...

Asian shares mostly rise as markets digest Fed moves

Jun. 17, 2021 23:58 PM EDT

TOKYO (AP) — Asian shares mostly rose Friday, as investors digested the latest message from the U.S. Federal Reserve on raising short-term interest rates by late 2023. Japan's benchmark added 0.3% in morning trading to 29,108.23. South Korea's Kospi edged 0.1% higher...

How major US stock indexes fared Thursday

Jun. 17, 2021 16:42 PM EDT

Most stocks ended lower on Wall Street Thursday as investors continued to interpret new guidance from the Federal Reserve, which is now looking at potentially raising interest rates as soon as 2023. Banks were one of the biggest drags on the market as bond yields fell....

US average mortgage rates mostly lower; 30-year at 2.93%

Jun. 17, 2021 14:02 PM EDT

WASHINGTON (AP) — Mortgage rates were mostly lower this week as the economy continued to show signs of recovery from the pandemic recession and recent bursts of inflation were deemed temporary by federal policymakers. Mortgage buyer Freddie Mac reported Thursday that...

Turkey's central bank keeps interest rate unchanged at 19%

Jun. 17, 2021 08:00 AM EDT

ISTANBUL (AP) — Turkey’s central bank left its key benchmark interest rate unchanged at 19% on Thursday. The bank said in a statement that the interest rate would be determined at a level about inflation and a “tight” monetary policy would continue “to maintain...

Fed sees earlier time frame for rate hikes with inflation up

Jun. 16, 2021 18:19 PM EDT

WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it may act sooner than previously planned to start dialing back the low-interest-rate policies that have helped fuel a swift rebound from the pandemic recession but have also coincided with rising inflation. ...

Iran election race narrows but fears persist of low turnout

Jun. 16, 2021 14:44 PM EDT

DUBAI, United Arab Emirates (AP) — Iran grappled with fears of low voter turnout two days ahead of its presidential election as the race narrowed on Wednesday into a showdown between the country’s hard-line judiciary chief and moderate former Central Bank chief. ...

Text of the Federal Reserve's statement after its meeting

Jun. 16, 2021 14:22 PM EDT

WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting ended: The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price...