Latest Central banking News

ECB says low rates to stay until the job is done

Jul. 22, 2021 08:57 AM EDT

FRANKFURT, Germany (AP) — Facing unease over the spread of a more-contagious variant of the coronavirus, the European Central Bank said it would maintain its stimulus in the form of ultra-low interest rates until inflation “durably” reaches its 2% target. The...

UK government backs Guaidó claim in Venezuelan gold fight

Jul. 19, 2021 15:39 PM EDT

LONDON (AP) — The British government sought Monday to prevent Venezuelan leader Nicolás Maduro from gaining access to nearly $2 billion of gold held by the Bank of England as the U.K. Supreme Court started hearing a case that hinges on the question of who should be considered the Latin...

As prices rise at rapid pace, Fed chief seeks patience

Jul. 15, 2021 15:55 PM EDT

WASHINGTON (AP) — For anyone watching with concern as prices surge for everything from food and gas to airplane tickets and clothes, the message from Federal Reserve Chair Jerome Powell over two days of congressional hearings this week was straightforward: Just give it more time and those...

Asian shares trading mixed as China reports growth slowed

Jul. 14, 2021 23:11 PM EDT

TOKYO (AP) — Asian shares were mixed Thursday, taking their cue from a wobbly day of trading on Wall Street. China reported its economy expanded at a 7.9% annual rate in the last quarter, down from 18.3% in January-March. But that reflected a...

Fed survey: US economy strong but hindered by bottlenecks

Jul. 14, 2021 16:59 PM EDT

WASHINGTON (AP) — The Federal Reserve's latest nationwide business survey found that the economy strengthened further in late May and early June, despite supply-chain bottlenecks that led to price hikes. The Fed said Wednesday that seven of its 12 regional bank...

How major US stock indexes fared Wednesday

Jul. 14, 2021 16:30 PM EDT

Stocks ended a wobbly day on Wall Street with mixed results Wednesday as investors weighed the latest corporate earning reports and the Federal Reserve chair’s comments on inflation. Technology companies made broad gains, while banks were mostly weaker after several of...

Powell says inflation, though elevated, will likely moderate

Jul. 14, 2021 16:13 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Wednesday that inflation, which has been surging as the recovery strengthens, “will likely remain elevated in coming months" before “moderating." At the same time, in testimony to the House Financial...

Europe takes another step toward introducing digital euro

Jul. 14, 2021 11:29 AM EDT

The European Central Bank said Wednesday it is launching a two-year investigation on whether to introduce a digital version of the euro that would complement cash, taking a cautious step toward introduction as central bankers around the world eye digital currencies and their potential impact...

UK inflation rises to highest level in nearly 3 years

Jul. 14, 2021 03:55 AM EDT

LONDON (AP) — Official figures show inflation in the U.K. rising to its highest level in nearly three years because of increases in the prices of food and motor fuel. The Office for National Statistics said Wednesday that the annual rate of inflation rose to 2.5% in...

Asian stocks advance after Wall Street hits new record

Jul. 11, 2021 23:54 PM EDT

BEIJING (AP) — Asian stock markets rose Monday after Wall Street hit a high despite jitters about the spread of the coronavirus's delta variant as investors looked ahead to U.S. earnings reports. Market benchmarks in Shanghai, Tokyo, Hong Kong and Sydney advanced. ...