Latest Central banking News

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...

Asian markets mixed on strong Chinese trade data

Oct. 11, 2018 11:57 PM EDT

SINGAPORE (AP) — Asian stocks were mixed on Friday as better-than-expected Chinese trade data gave some markets a breather from worries about the impact of punitive tariffs. KEEPING SCORE: Japan's benchmark Nikkei 225 racked up more losses after falling almost 4 percent in the previous day. The index...

Trump steps up his attacks on Federal Reserve's rate hikes

Oct. 11, 2018 4:05 PM EDT

WASHINGTON (AP) — President Donald Trump on Thursday escalated his attack on the Federal Reserve's interest rate increases, asserting that "the Fed is out of control" and blaming it for this week's plunge in stock prices. "It's a correction that I think is caused by the Federal Reserve with interest...

Trump steps up his attacks on Federal Reserve's rate hikes

Oct. 11, 2018 4:03 PM EDT

WASHINGTON (AP) — President Donald Trump has escalated his attack on the Federal Reserve's interest rate increases, asserting that "the Fed is out of control" and blaming it for this week's plunge in stock prices. "It's a correction that I think is caused by the Federal Reserve with interest rates," Trump...

Mortgage rates leap to 7-year highs; 30-year at 4.90 percent

Oct. 11, 2018 12:34 PM EDT

WASHINGTON (AP) — Long-term U.S. mortgage rates leaped this week to their highest levels in seven years amid global anxiety over rising interest rates that has gripped financial markets. Costs for would-be homebuyers are climbing. Mortgage buyer Freddie Mac said Thursday the rate on 30-year, fixed-rate...

European Central Bank confident in plan to remove stimulus

Oct. 11, 2018 8:43 AM EDT

FRANKFURT, Germany (AP) — Top European Central Bank officials expressed confidence at their last meeting that inflation is trending toward levels consistent with a strong economy — more confirmation that their 2.5 trillion-euro ($2.9 trillion) stimulus program will cease at year end. The written...

Losses on Wall Street ripple through Asia; stocks slump

Oct. 11, 2018 12:46 AM EDT

SINGAPORE (AP) — Asian markets were broadly lower on Thursday after Wall Street slumped on a heavy selling of technology and internet stocks. Japan's benchmark fell by an unusually wide margin of 3.9 percent and China's main index lost 4.3 percent. Markets in Hong Kong, South Korea, Australia and Southeast...

Q&A: Why rising interest rates are shaking financial markets

Oct. 11, 2018 12:06 AM EDT

NEW YORK (AP) — The foundation at the center of the investment world is shaking. U.S. Treasury bonds are considered among the closest approximations to a "safe" investment in the financial system, which makes them a benchmark for most other investments. A pronounced move in Treasury prices ripples through...

Q&A: Why rising interest rates are shaking financial markets

Oct. 10, 2018 8:20 PM EDT

NEW YORK (AP) — The foundation at the center of the investment world is shaking. U.S. Treasury bonds are considered among the closest approximations to a "safe" investment in the financial system, which makes them a benchmark for most other investments. A pronounced move in Treasury prices ripples through...

The Latest: Trump seeks to boost Kelly, Barletta at rally

Oct. 10, 2018 8:02 PM EDT

ERIE, Pa. (AP) — The Latest on President Donald Trump on the campaign trail (all times local): 8 p.m. President Donald Trump is boosting Pennsylvania's Republican candidates as he works to rally support ahead of November's midterm elections. Trump invited Reps. Mike Kelly and Lou Barletta up on stage with...