Latest Central banking News

At sunset, the sky above the Frankfurt skyline and the water of the river Main are colored deep red, Friday, June 19, 2020, in Frankfurt, Germany. (Arne Dedert/dpa via AP)

European Central Bank urges leaders to act on economy

Jul. 16, 2020 10:43 AM EDT

FRANKFURT, Germany (AP) — The European Central Bank hit pause Thursday after deploying massive stimulus measures in recent weeks and urged government leaders to do their part by agreeing on an EU-wide fund to support regions hardest hit by the virus outbreak. ECB President Christine Lagarde said that...

Ukraine appoints new head of the National Bank

Jul. 16, 2020 8:43 AM EDT

KYIV, Ukraine (AP) — Ukraine’s parliament on Thursday voted to appoint a new head of the country's central bank after its former chief stepped down citing political pressure. The parliament approved 47-year-old banker Kyrylo Shevchenko as the new head of Ukraine's National Bank on Thursday with 332...

European Central Bank leaves stimulus programs unchanged ahead of a key meeting of EU leaders on economic recovery plan

Jul. 16, 2020 7:51 AM EDT
FRANKFURT, Germany (AP) — European Central Bank leaves stimulus programs unchanged ahead of a key meeting of EU leaders on economic recovery plan.
FILE - In this June 10, 2020 file photo, a woman walks past a store with sale signs displayed at Great Lakes Mall, in Mentor, Ohio. The Federal Reserve says economic activity has picked up in most regions of the country but still remains well below pre-pandemic levels with the country facing high levels of uncertainty. The Fed reported Wednesday, July 15 that its latest survey of economic conditions around the country found improvements in consumer spending and other areas but said the gains were from very low levels seen when widespread lockdowns push the country into a deep recession. (AP Photo/Tony Dejak, File)

Fed survey says economy has picked up but outlook cloudy

Jul. 15, 2020 5:28 PM EDT

WASHINGTON (AP) — The Federal Reserve says economic activity has picked up in most regions of the country but still remains well below pre-pandemic levels with the country facing high levels of uncertainty. The Fed reported Wednesday that its latest survey of economic conditions around the country found...

FILE- In this June 14, 2018, file photo Federal Reserve Board Governor Lael Brainard participates in an open meeting in Washington.  Brainard warned Tuesday, July 14, 2020,  that the U.S. economy appears to be slowing after an initial burst of recovery and called for the Fed to take aggressive steps to spur growth.  (AP Photo/Cliff Owen, File)

Fed's Brainard warns US economy may slow, urges more support

Jul. 14, 2020 3:59 PM EDT

WASHINGTON (AP) — Federal Reserve Governor Lael Brainard warned Tuesday that the U.S. economy appears to be slowing after an initial burst of recovery and called for the Fed to take aggressive steps to bolster growth. Brainard said that hiring and consumer spending bounced back more strongly than expected...

FILE - This July 31, 2019, file photo, shows the Federal Reserve logo ahead of the start of a scheduled news conference by Chairman Jerome Powell in Washington. The Federal Reserve says it purchased $1.3 billion in corporate bonds in late June 2020 as part of its effort to keep U.S. interest rates low and ensure large companies can borrow by selling bonds. (AP Photo/Manuel Balce Ceneta, File)

Fed buys more corporate bonds but may soon end purchases

Jul. 10, 2020 7:55 PM EDT

WASHINGTON (AP) — The Federal Reserve said Friday that it purchased $1.3 billion in corporate bonds in late June as part of its effort to keep U.S. interest rates low and ensure large companies can borrow by selling bonds. The Fed bought bonds issued by several hundred large companies, including AT&T,...

A man walks by the Euro sculpture in front of the old the European Central Bank in Frankfurt, Germany, Tuesday, May 5, 2020. Germany's Constitutional Court has ruled that the country's central bank must stop participating in a key European Central Bank stimulus program but gave the ECB time to demonstrate that the stimulus program is needed and appropriate. (AP Photo/Michael Probst)

Croatia, Bulgaria take big step toward joining the euro

Jul. 10, 2020 6:39 PM EDT

FRANKFURT, Germany (AP) — Croatia and Bulgaria took a big step toward joining the shared euro currency Friday, underlining the currency bloc's attraction despite its 2010-2015 debt crisis and the continuing debate about how to strengthen it against possible future trouble. Finance ministers of the 19...

German President Frank-Walter Steinmeier, left, and the former President of the European Central Bank (ECB), Mario Draghi, right, pose for the media at the Bellevue Palace in Berlin, Germany, Friday, Jan. 31, 2020. Mario Draghi has been awarded Germany's highest honor. It was a recognition of his central role in helping preserve Europe's single currency that has met with some criticism in the eurozone's biggest economy.  (Britta Pedersen/dpa via AP)

Pope names Draghi, ex-head of European Central Bank to panel

Jul. 10, 2020 9:48 AM EDT

VATICAN CITY (AP) — Mario Draghi, the former head of the European Central Bank, has been appointed by Pope Francis to a Vatican advisory panel, the Holy See said on Friday. The pontiff named Draghi, 72, as a member of the Pontifical Academy of Social Sciences. An economist who received his doctorate from...

A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Tuesday, July 7, 2020. Asian shares were mixed Tuesday, as some benchmarks were buoyed by an ongoing worldwide rally as investors bet on a dramatic economic turnaround amid ongoing challenges of the coronavirus outbreak. (AP Photo/Vincent Yu)

Asia markets slip as virus outbreaks mute hopes for rebound

Jul. 7, 2020 12:42 AM EDT

TOKYO (AP) — Markets were mostly lower in Asia on Tuesday as expanding coronavirus outbreaks dimmed hopes for a global recovery, despite an overnight rally in tech shares that pushed the Nasdaq composite to another record high. Japan's benchmark Nikkei 225 dropped 0.6% to 22,577.65 and South Korea's Kospi...

Ukraine's parliament accepts chief banker's resignation

Jul. 3, 2020 1:10 PM EDT

KYIV, Ukraine (AP) — Ukraine’s parliament on Friday accepted the resignation of the country’s top banker, who has stepped down citing political pressure. National Bank head Yakiv Smolii submitted his letter of resignation Wednesday, pointing at “systematic political pressure” as...