Latest Central bank interest rates News

Stocks fall, have worst week since March 2020; Netflix tanks

Jan. 21, 2022 17:45 PM EST

Stocks fell again on Wall Street Friday, capping off the worst weekly drop for the S&P 500 since the start of the pandemic. Investors have grown increasingly worried about rising inflation and how aggressive the Federal Reserve might be in raising interest rates to tamp it down....

Fed study on digital currency leans toward role for banks

Jan. 20, 2022 16:19 PM EST

WASHINGTON (AP) — The Federal Reserve on Thursday released a highly anticipated report on central bank digital currencies that suggested it is leaning toward having banks and other financial firms, rather than the Fed itself, manage digital accounts for customers. A central bank...

Turkey's central bank ends string of interest rate cuts

Jan. 20, 2022 09:42 AM EST

ANKARA, Turkey (AP) — Turkey’s central bank kept a key interest rate unchanged on Thursday, halting a string of rate cuts that triggered a currency crisis and sent consumer prices skyrocketing. The bank’s Monetary Policy Committee said it decided to keep its policy rate...

Asian stocks rise after China rate cuts, Japan export gain

Jan. 19, 2022 22:20 PM EST

BEIJING (AP) — Asian stock markets rose Thursday after China cut interest rates to shore up flagging economic growth and Japan reported a double-digit rise in exports. Benchmarks in Shanghai, Tokyo, Hong Kong and Seoul advanced. On Wall Street, the benchmark S&P...

EXPLAINER: Are Turkey's efforts to fix the economy working?

Jan. 19, 2022 03:03 AM EST

ANKARA, Turkey (AP) — Turkey’s government and central bank have taken unconventional steps in recent weeks to prop up a beleaguered economy crippled by skyrocketing consumer prices, instead of ending a much-criticized plan to cut interest rates. President Recep Tayyip Erdogan’s...

How major US stock indexes fared Tuesday

Jan. 18, 2022 16:28 PM EST

Stocks fell to a new low for the year on Wall Street Tuesday and bond yields surged amid renewed jitters the Federal Reserve will lift interest rates to tackle rising inflation. The S&P 500, the Dow Jones Industrial Average and the Nasdaq fell. Technology stocks and banks led...

Eurogroup seeks path between high inflation, slower growth

Jan. 17, 2022 15:01 PM EST

BRUSSELS (AP) — Euro finance chiefs on Monday ventured into a high-wire political balancing act prompted by conflicting economic forces: a weaker growth outlook and stronger inflation. Finance ministers from the 19 nations that share the euro currency pledged continued budgetary...

Senior ECB official: rate rise too soon could choke recovery

Jan. 15, 2022 04:53 AM EST

BERLIN (AP) — A senior European Central Bank official says that raising interest rates prematurely could “choke off the recovery,” comments that come as inflation in the 19-nation euro area has hit a record rate. The European Union's statistical office said Jan. 7 that the...

Biden nominates 3 for Fed board, including first Black woman

Jan. 14, 2022 17:38 PM EST

WASHINGTON (AP) — President Joe Biden on Friday announced the nominations of three people for the Federal Reserve's Board of Governors, including Sarah Bloom Raskin, a former Fed and Treasury official, for the top regulatory slot and Lisa Cook, who would be the first Black woman to serve on the...

Fed nominee Brainard: Fighting inflation is top priority

Jan. 13, 2022 13:25 PM EST

WASHINGTON (AP) — Lael Brainard, President Joe Biden's nominee for the Federal Reserve's No. 2 spot, said Thursday that combating high inflation is the central bank's top priority and said she believed the Fed could reduce it without sacrificing economic growth. Testifying at her...