Latest Central banking News

Stocks rally after Fed chair signals slowdown in rate hikes

Nov. 30, 2022 15:08 PM EST

Stocks rallied and Treasury yields fell Wednesday after the head of the Federal Reserve said that the central bank could soon begin easing up on its aggressive interest rate increases aimed at taming inflation. Fed Chair Jerome Powell, speaking at the Brookings Institution,...

Powell: Fed to keep rates higher for longer to cut inflation

Nov. 30, 2022 13:36 PM EST

WASHINGTON (AP) — The Federal Reserve will push rates higher than previously expected and keep them there for an extended period, Chair Jerome Powell said Wednesday, in remarks likely intended to underscore the Fed's single-minded focus on combating stubborn inflation. Powell also...

US job openings fell in October to still-high level

Nov. 30, 2022 11:40 AM EST

WASHINGTON (AP) — U.S. job openings dropped in October but remained high, a sign that businesses became slightly less needy for workers as the Federal Reserve ramps up interest rates in an effort to cool the economy. Employers posted 10.3 million job vacancies in October, down...

The AP Interview: IMF head urges China to end mass lockdowns

Nov. 30, 2022 10:51 AM EST

BERLIN (AP) — It is time for China to move away from massive lockdowns and toward a more targeted approach to COVID-19, the head of the International Monetary Fund said days after widespread protests broke out, a change that would ease the impact to a world economy already struggling with high...

Asian shares mostly decline ahead of Fed chair's key speech

Nov. 29, 2022 23:28 PM EST

TOKYO (AP) — Asian shares were mostly lower Wednesday ahead of a closely watched speech by the Federal Reserve chief that may give clues about future interest rate hikes. Investors were also eyeing developments in China, where protests have erupted over the “zero-COVID”...

Asian shares rise except Japan as markets eye China protests

Nov. 28, 2022 21:22 PM EST

TOKYO (AP) — Asian shares were mostly higher Tuesday as market jitters declined over protests in China set off by growing public anger over COVID-19 restrictions. Benchmarks rose in early trading in Australia, South Korea and China, while shares fell in Japan. Oil prices fell. ...

2 Fed officials favor keeping key rate at peak through 2023

Nov. 28, 2022 16:23 PM EST

WASHINGTON (AP) — Two Federal Reserve officials said Monday that they favor raising the Fed's key rate to roughly 5% or more and keeping it at its peak through next year — longer than many on Wall Street have expected. John Williams, president of the Federal Reserve Bank of New...

Europe's inflation likely hasn't peaked, ECB's Lagarde says

Nov. 28, 2022 13:07 PM EST

BRUSSELS (AP) — The head of the European Central Bank said Monday she does not believe inflation has peaked after reaching the highest levels on record. ECB President Christine Lagarde also told European lawmakers that the bank isn't through raising interest rates to combat those...

Turkish central bank cuts rates again despite high inflation

Nov. 24, 2022 07:41 AM EST

ANKARA, Turkey (AP) — Turkey’s central bank delivered another outsized interest rate cut Thursday despite inflation running at more than 85% and other countries moving the opposite way to ease the pain of soaring prices. The central bank said its Monetary Policy Committee decided...

Sweden's big interest rate hike follows other central banks

Nov. 24, 2022 07:03 AM EST

STOCKHOLM (AP) — Sweden’s central bank followed other central banks in undertaking a big increase to its key interest rate to combat inflation, saying Thursday that high prices are undermining people's purchasing power and making it tough for households and companies to plan their finances. ...