Latest Central banking News

Stocks rally, driving Wall Street to a rare winning week

Jun. 24, 2022 16:48 PM EDT

Stocks racked up more gains on Wall Street Friday, as the S&P 500 had its best day in two years and just its second winning week in the last 12 to provide a bit of relief from the market's brutal sell-off this year. The benchmark index rose 3.1%, with technology and banks leading...

How major US stock indexes fared Friday 6/24/2022

Jun. 24, 2022 16:29 PM EDT

Wall Street rallied on Friday, lifting the S&P 500 3.1% for its best gain in two years. The benchmark index also ended the week 6.4% higher, erasing the brutal loss it took a week earlier. It was just the second winning week for the S&P 500 in the last 12. ...

Solidarity behind Ukraine's Russia fight atop summit agendas

Jun. 24, 2022 14:06 PM EDT

WASHINGTON (AP) — Back-to-back world leader summits in Europe opening this weekend will focus on uniting Western nations behind Ukraine in its fight against Russia's invasion and overcoming Turkey's opposition to NATO membership for Finland and Sweden. The Group of Seven leading...

Asian shares gain, tracking Wall Street advance

Jun. 24, 2022 00:36 AM EDT

BANGKOK (AP) — Shares were higher in Asia on Friday, tracking gains on Wall Street, where the market is headed for its first weekly gain after three weeks of punishing losses. Tokyo's Nikkei 225 index added 0.9% to 26,411.64 and the Kospi in Seoul jumped 1.8% to 2,356.38. Hong...

All big US banks pass Fed's annual 'stress tests'

Jun. 23, 2022 17:15 PM EDT

NEW YORK (AP) — The nation’s 33 biggest banks have enough capital to withstand a severe economic contraction, the Federal Reserve said Thursday. In its latest annual “stress tests” of the U.S. financial system, the Fed built a scenario under which the nation’s unemployment...

How major US stock indexes fared Thursday 6/23/2022

Jun. 23, 2022 16:34 PM EDT

Stocks shook off a midday slump and ended higher, keeping major indexes on track for weekly gains. Trading was wobbly throughout the day as investors remained focused on another day of testimony before Congress by Federal Reserve Chair Jerome Powell. The S&P 500, the Dow Jones...

Mexico's central bank hikes its prime lending rate to 7.75%

Jun. 23, 2022 16:14 PM EDT

MEXICO CITY (AP) — Stung by stubbornly high inflation, Mexico’s Central Bank announced Thursday that it made a thre-quarter-point increase in its prime interest rate, to boost it to 7.75%. The Banco de Mexico said in the announcement that domestic inflation hit an annualized...

Powell: Fed must convince public it can tame inflation

Jun. 23, 2022 13:45 PM EDT

WASHINGTON (AP) — As if their job weren't hard enough at a time of raging inflation, Chair Jerome Powell and his Federal Reserve colleagues have to do more these days than decide just how much to raise interest rates without triggering a recession. They also have a sales job on...

Norway central bank hikes key policy interest rate to 1.25%

Jun. 23, 2022 05:27 AM EDT

COPENHAGEN, Denmark (AP) — Norway’s central bank raised its key policy interest rate from 0.75% to 1.25% on Thursday, saying “the prospects for a more prolonged period of high inflation suggest a faster rise in the policy rate than projected earlier.” In a statement, Norges...

Asian stocks mixed after Wall St declines on growth worries

Jun. 23, 2022 00:14 AM EDT

BEIJING (AP) — Asian stock markets were mixed Thursday after Wall Street edged lower amid fears higher interest rates will chill global economic growth. Shanghai and Hong Kong advanced, while Tokyo and Seoul declined. Oil prices fell more than $2 per barrel to near $100. ...