Latest Central bank interest rates News

Final-hour rally yanks Wall Street from maw of bear market

May. 20, 2022 21:57 PM EDT

NEW YORK (AP) — Wall Street rumbled to the edge of a bear market Friday after another drop for stocks briefly sent the S&P 500 more than 20% below its peak set early this year. The S&P 500 index, which sits at the heart of most workers’ 401(k) accounts, was down as much...

US stocks got close to a bear market. Here’s what that means

May. 20, 2022 16:46 PM EDT

NEW YORK (AP) — The bear came close to Wall Street but then backed off. The stock market’s slump this year briefly pulled the S&P 500 into what's known as a bear market Friday, before a late rally put the index in the green. The prevailing sentiment among investors remains...

Asian stocks rise after Wall St slips closer to bear market

May. 20, 2022 00:34 AM EDT

BEIJING (AP) — Asian stock markets rose Friday after Wall Street fell closer to bear territory, China cut a key interest rate and Japanese inflation edged higher. Market benchmarks in Shanghai, Tokyo, Hong Kong and Sydney advanced. Oil prices fell more than $1 per barrel. ...

Asian shares track Wall Street's inflation-fueled retreat

May. 18, 2022 22:36 PM EDT

TOKYO (AP) — Shares dropped sharply in Asia on Thursday after a broad retreat on Wall Street triggered by dismal results from major retailer Target that renewed worries over the impact of high inflation. Hong Kong’s Hang Seng led the declines, dropping 3.1%, while Tokyo’s...

UK inflation hits 40-year high amid Russia's war in Ukraine

May. 18, 2022 05:55 AM EDT

LONDON (AP) — Britain’s inflation rate rose to the highest level in 40 years last month as Russia's war in Ukraine fueled further increases in food and fuel prices. Consumer price inflation accelerated to 9% in the 12 months through April, up from 7% the previous month, the...

Asia stocks mixed after Wall St gain, Powell warns on rates

May. 17, 2022 23:33 PM EDT

BEIJING (AP) — Asian stock markets were mixed Wednesday after Wall Street rose and the Federal Reserve's chairman said it will raise interest rates further if needed to cool inflation. Shanghai and Hong Kong declined. Tokyo and Seoul advanced. Oil prices rose to stay above $110 per...

Powell: Fed to keep hiking rates until it controls inflation

May. 17, 2022 16:43 PM EDT

WASHINGTON (AP) — Chair Jerome Powell on Tuesday underscored the Federal Reserve's determination to keep raising interest rates until there is clear evidence inflation is steadily falling — a high-stakes effort that carries the risk of causing an eventual recession. The Fed's...

Asian shares advance despite losses on Wall Street

May. 16, 2022 23:59 PM EDT

Shares advanced in Asia on Tuesday after another wobbly day on Wall Street extended a losing streak for markets. Hong Kong advanced nearly 2.5% and other regional benchmarks were moderately higher. Oil prices slipped. Signs of progress in China's effort to bring...

Bank of England governor rejects criticism on inflation

May. 16, 2022 15:09 PM EDT

LONDON (AP) — Bank of England Gov. Andrew Bailey on Monday rejected criticism that the institution didn’t move quickly enough to quash inflationary pressures, telling a parliamentary committee that monetary policymakers weren’t able to predict wars. Bailey has come under sharp...

Powell: 'Soft' economic landing may be out of Fed's control

May. 12, 2022 18:10 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell, fresh off winning Senate confirmation for a second term earlier in the day, acknowledged for the first time Thursday that high inflation and economic weakness overseas could thwart his efforts to avoid causing a recession. ...