Latest Central bank interest rates News

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...

Powell: Fed aims to avoid recession but says it's possible

Jun. 22, 2022 15:11 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell sought Wednesday to reassure the public that the Fed will raise interest rates high and fast enough to quell inflation, without tightening credit so much as to throttle the economy and cause a recession. Testifying to the...

Czech central bank raises key rate again to tackle inflation

Jun. 22, 2022 10:42 AM EDT

PRAGUE (AP) — The Czech Republic’s central bank once again raised its key interest rate significantly Wednesday as it tried to combat soaring inflation. The hike of a percentage point and a quarter brought the interest rate to 7%, the highest level since early 1999. It was the...

Asian shares mostly lower despite Wall St rally; eyes on Fed

Jun. 22, 2022 00:27 AM EDT

TOKYO (AP) — Asian shares were mostly lower Wednesday as markets shrugged off a Wall Street rally and awaited congressional testimony by Federal Reserve Chair Jerome Powell. Japan’s benchmark Nikkei 225 shed 0.2% to 26,206.68. Australia’s S&P/ASX 200 lost 0.2% to 6,508.40....

Fed's Powell facing rising criticism for inflation missteps

Jun. 21, 2022 17:06 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell won praise for his deft leadership during the maelstrom of the pandemic recession. As threats to the U.S. economy have mounted, though, Powell has increasingly struck Fed watchers as much less sure-footed. Inflation has proved...

Asian markets mostly lower; bitcoin steady at $20,000

Jun. 20, 2022 03:24 AM EDT

TOKYO (AP) — Asian markets were mostly lower Monday in cautious trading, while the price of bitcoin remained near $20,000. Shares fell in most Asian markets but rose in Hong Kong and India as worries over inflation and risks of a global recession from central bank efforts to bring...

Gas prices dip in NJ, rise a bit across nation at large

Jun. 18, 2022 09:56 AM EDT

TRENTON, N.J. (AP) — Gas prices dipped a bit in New Jersey but rose a bit across the nation at large as crude oil prices dropped after the Federal Reserve's interest rate hike and amid demand concerns. AAA Mid-Atlantic says the average price of a gallon of regular...

California adds jobs in May; economy shows signs of weakness

Jun. 17, 2022 17:35 PM EDT

SACRAMENTO, Calif. (AP) — California posted another strong jobs report on Friday as the unemployment rate fell to its lowest point since before the pandemic; but the news was overshadowed this week by the surest signs yet of a wobbly economy that could soon usher in a recession. ...