Latest Central banking News

Taliban and US officials to meet amid quake relief efforts

Jun. 29, 2022 12:28 PM EDT

ISLAMABAD (AP) — Afghan finance and central bank officials from the Taliban-led government departed for Qatar on Wednesday to meet with U.S. officials, the Taliban said. The meeting follows last week’s deadly earthquake, which brought into focus how relief and emergency aid efforts have...

Powell: 'No guarantee' Fed can tame inflation, spare jobs

Jun. 29, 2022 12:28 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said there's “no guarantee'' the central bank can tame runaway inflation without hurting the job market. Speaking Wednesday at a European Central Bank forum in Sintra, Portugal, Powell repeated his hope that the Fed can...

Strong ruble could hurt Russian businesses, official warns

Jun. 29, 2022 08:01 AM EDT

MOSCOW (AP) — As the ruble strengthens to levels not seen in seven years, Russia's minister of economic development warned Wednesday that the country's businesses could suffer if the trend persists. The ruble hit all-time lows in the first weeks after Russia sent troops into...

Europe's central bank ready to 'stamp out' surging inflation

Jun. 28, 2022 06:47 AM EDT

SINTRA, Portugal (AP) — The head of the European Central Bank said Tuesday that it will move gradually to combat soaring consumer prices with interest rate hikes in July and September but will keep its options open to “stamp out" inflation if it surges faster than expected. In a...

Did corporate greed fuel inflation? It's not biggest culprit

Jun. 26, 2022 09:27 AM EDT

WASHINGTON (AP) — Furious about surging prices at the gasoline station and the supermarket, many consumers feel they know just where to cast blame: On greedy companies that relentlessly jack up prices and pocket the profits. Responding to that sentiment, the Democratic-led House of...

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...