Latest Banking and credit News

How major US stock indexes fared Friday

Sep. 13, 2019 4:55 PM EDT

U.S. stock indexes closed mostly lower Friday as a decline in technology stocks offset a strong performance by Wall Street banks. The S&P 500 notched its third straight weekly gain. Bond yields rose sharply after the government reported that Americans kept spending money in August. Investors were looking...

US stock indexes end mixed; S&P 500 notches 3rd weekly gain

Sep. 13, 2019 4:48 PM EDT

The S&P 500 notched its third straight weekly gain Friday, even as the major U.S. stock indexes ended the day mostly lower. A slide in technology stocks, along with losses in consumer-focused and real estate companies, offset solid gains elsewhere in the market, including big Wall Street banks and industrial...

Bundesbank chief Weidmann critical of new ECB stimulus

Sep. 13, 2019 11:03 AM EDT

BERLIN (AP) — The head of Germany's central bank says the European Central Bank "overshot the mark" in delivering a new blast of monetary stimulus to help the continent's shaky economy. The ECB decided Thursday to cut a key interest rate and restart its bond-buying stimulus program. Bundesbank President...

The Fed and ECB aim to avoid downturns but with limited ammo

Sep. 12, 2019 5:19 PM EDT

WASHINGTON (AP) — The Federal Reserve and the European Central Bank are struggling mightily to invigorate their economies at a time when growth is slowing, governments remain on the sidelines and the banks' usual stimulative tools appear less effective than in the past. On Thursday, the ECB delivered a...

Senate approves Trump nominee Bowman for Federal Reserve

Sep. 12, 2019 4:30 PM EDT

WASHINGTON (AP) — The Senate on Thursday confirmed President Donald Trump's nominee Michelle Bowman to serve a full 14-year term on the seven-member Federal Reserve board. Bowman was approved on a 60-31 vote, winning the support of 49 Republicans and 11 Democrats. Only one Republican, Sen. Rand Paul of...

US consumer prices up slight 0.1% in August but core higher

Sep. 12, 2019 12:19 PM EDT

WASHINGTON (AP) — Overall consumer prices slowed in August, reflecting a big drop in the cost of gasoline and other energy products. But core inflation, which excludes energy and food, was rising at its fastest pace in a year. Economists said this increase in long-dormant inflation should not deter the...

Turkish central bank slashes key interest rate again

Sep. 12, 2019 8:18 AM EDT

ANKARA, Turkey (AP) — Turkey's central bank, under its new governor, has slashed its key interest rate again, this time by 3.25 percentage points. The bank said Thursday it had lowered the one-week repo auction rate to 16.50% from 19.75%, saying the inflation outlook continued to improve. The bank had cut...

European Central Bank cuts key rate, restarts bond-buying stimulus program to help slowing economy

Sep. 12, 2019 7:49 AM EDT
FRANKFURT, Germany (AP) — European Central Bank cuts key rate, restarts bond-buying stimulus program to help slowing economy.

Stock markets edge up ahead of ECB stimulus decision

Sep. 12, 2019 7:12 AM EDT

BANGKOK (AP) — World stock markets rose cautiously Thursday as investors awaited the European Central Bank's decision on how much stimulus it will provide the economy. Sentiment also was brightened by hopes that China and the U.S. are moving to ease trade tensions. Germany's DAX edged 0.2% higher to 12,378...

Europe eyes stimulus plan, but ultra-low rates raise doubts

Sep. 11, 2019 2:15 PM EDT

FRANKFURT, Germany (AP) — The European Central Bank appears to be preparing a new shot of stimulus to try to energize the economy. But the move is sure to renew a nagging question: Can central banks do much good when rates are already ultra-low? Analysts say the bank is likely to cut a key interest rate...