Latest Central banking News

FILE - In this March 10, 2020, file photo, traders Steven Kaplan, left, and Gregory Rowe react at the closing on the floor of the New York Stock Exchange. Wall Street is opening slightly higher, Tuesday, Sept. 22, 2020, as markets recover from steep losses Monday. (AP Photo/Richard Drew, File)

Wall Street steadies itself after 4-day losing streak

Sep. 22, 2020 2:26 PM EDT

Stocks are drifting higher on Wall Street Tuesday, steadying themselves a day after tumbling amid a raft of worries about the pandemic and governments’ response to it. The S&P 500 was 0.8% higher on the heels of its first four-day losing streak since the market was selling off in February. The Dow...

Federal Reserve Chair Jerome Powell testifies during a House Financial Services Committee hearing about the government’s emergency aid to the economy in response to the coronavirus on Capitol Hill in Washington on Tuesday, Sept. 22, 2020. (Caroline Brehman/Pool via AP)

Powell and Mnuchin voice optimism but back more economic aid

Sep. 22, 2020 1:13 PM EDT

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin expressed cautious optimism Tuesday that the U.S. economy is rebounding from the pandemic-induced recession with federal support but that more help from the government is likely needed. Powell told the House...

People with bicycles pass an outdoor restaurant on a street in the Sodermalm neighbourhood of Stockholm, Thursday, August 20, 2020. (Fredrik Sandberg/TT News Agency via AP)

Swedish central bank sees key interest rate at 0 for years

Sep. 22, 2020 7:07 AM EDT

STOCKHOLM (AP) — Sweden’s central bank on Tuesday kept its main interest rate at zero and said it expects it to remain “at this level in the coming years” due to the economic uncertainty created by the virus pandemic. Riksbanken said its policies and low interest rate had supported the...

FILE - In this June 30, 2020, file photo Federal Reserve Board Chairman Jerome Powell, reflected in the sneeze guard set up between himself and members of the House Committee on Financial Services, speaks during a hearing on oversight of the Treasury Department and Federal Reserve pandemic response on Capitol Hill in Washington.  The Federal Reserve adjusted its inflation target to seek price increases above 2% annually, a move that will likely keep interest rates low for years to come.  The Fed on Wednesday, Sept. 16,  also left its benchmark short-term rate unchanged at nearly zero, where it has been since the pandemic intensified in March.  (Bill O'Leary/The Washington Post via AP, Pool)

Powell: Many small companies can borrow without Main Street

Sep. 21, 2020 5:40 PM EDT

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell says that many mid-size U.S. businesses are now able to borrow from banks, suggesting that the need for a Fed lending program that was designed to serve struggling medium-size companies has waned. In remarks prepared for delivery Tuesday to the House...

European Central Bank (ECB) President Christine Lagarde attends a news conference during the Informal Meeting of Economics and Finance Ministers in Berlin, Germany, Friday, Sept. 11, 2020. (Hannibal Hanschke/Pool Photo via AP)

Central bank head: Europe's recovery uncertain, incomplete

Sep. 21, 2020 10:09 AM EDT

FRANKFURT, Germany (AP) — The head of the European Central Bank says that the economy is rebounding but that the recovery remains uncertain, incomplete and dependent on containing the virus outbreak. ECB President Christine Lagarde told a joint meeting of parliamentary deputies from France and Germany on...

FILE - Marble sculptures occupy the pediment above the New York Stock Exchange signage, Tuesday Aug. 25, 2020, in New York.  Stocks are drifting in mixed trading on Wall Street Friday, Sept. 18, as another zig-zag week for markets closes out following their abrupt loss of momentum this month.(AP Photo/Bebeto Matthews, File)

US stocks fall as market decline extends for third week

Sep. 18, 2020 5:30 PM EDT

Wall Street capped another turbulent week of trading Friday with a broad slide in stocks that left the S&P 500 with its third-straight weekly loss. The S&P 500 fell 1.1%, led once again by a sell-off in technology companies, with Apple, Amazon and Alphabet weighing particularly on the market. Technology...

How major US stock indexes fared Friday

Sep. 18, 2020 5:06 PM EDT

Stocks are closing lower on Wall Street Friday, as another zig-zag week for markets ends with a third-straight weekly loss for the S&P 500. Technology companies, including Apple, Amazon and Alphabet, weighed particularly heavy on the market decline. Stocks have swirled this week despite the Federal Reserve...

FILE - In this Jan. 3, 2020 file photo, the Wall St. street sign is framed by American flags flying outside the New York Stock Exchange in New York.  Stocks are falling early on Wall Street Thursday, Sept. 17,  as the late selling from the previous day carries over.  (AP Photo/Mary Altaffer, File)

Asia slightly higher despite Wall Street slump, virus fears

Sep. 17, 2020 11:33 PM EDT

TOKYO (AP) — Asian shares were slightly higher Friday despite some investor attention shifting again to the uncertainties in global economies amid the coronavirus pandemic, as reflected in the overnight fall on Wall Street. Japan's benchmark Nikkei 225 was little changed but inched up less than 0.1% in...

How major US stock indexes fared Thursday

Sep. 17, 2020 5:15 PM EDT

Stocks closed lower Thursday after another slide in technology companies led a broad sell-off on Wall Street. The sell-off, which lost some of its strength toward the late afternoon, came a day after the Federal Reserve said it will keep interest rates at nearly zero for years to support the wheezing economy. ...

Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Sept. 17, 2020. Asian stock markets declined Thursday after the U.S. Federal Reserve indicated its benchmark interest rate will stay close to zero at least through 2023 but announced no additional stimulus plans. (AP Photo/Ahn Young-joon)

Asian stocks retreat on lack of new Fed action

Sep. 16, 2020 11:28 PM EDT

Asian stock markets declined Thursday after the U.S. Federal Reserve indicated its benchmark interest rate will stay close to zero at least through 2023 but announced no additional stimulus plans. Market benchmarks in Shanghai, Tokyo, Seoul and Hong Kong all retreated. Wall Street's benchmark S&P 500 index...