Latest Central banking News

Stocks fall, have worst week since March 2020; Netflix tanks

Jan. 21, 2022 17:45 PM EST

Stocks fell again on Wall Street Friday, capping off the worst weekly drop for the S&P 500 since the start of the pandemic. Investors have grown increasingly worried about rising inflation and how aggressive the Federal Reserve might be in raising interest rates to tamp it down....

Chile's incoming cabinet: Women, youth and a nod to markets

Jan. 21, 2022 11:38 AM EST

SANTIAGO, Chile (AP) — Chile's millennial, leftist President-elect Gabriel Boric announced his first cabinet on Friday, giving a majority of posts to women and several to former student protest leaders while also reassuring markets by naming the Central Bank chief as finance minister. ...

Libya's central bank, torn by civil war, says it will unify

Jan. 20, 2022 19:38 PM EST

CAIRO (AP) — Libya’s central bank said on Thursday that it has started a process to reunify after being split for years during the country’s civil war. In a statement Friday, the bank said that the reunification of the bank’s institutions will be implemented in stages. The...

Fed study on digital currency leans toward role for banks

Jan. 20, 2022 16:19 PM EST

WASHINGTON (AP) — The Federal Reserve on Thursday released a highly anticipated report on central bank digital currencies that suggested it is leaning toward having banks and other financial firms, rather than the Fed itself, manage digital accounts for customers. A central bank...

Sri Lanka settles sovereign bond payment as reserves dwindle

Jan. 20, 2022 10:48 AM EST

COLOMBO, Sri Lanka (AP) — Sri Lanka has paid $500 million due on sovereign bonds from its badly depleted foreign reserves despite calls by experts to defer the payment and use the sum to import essential foods and medicine. The Indian ocean island nation is in its worst crisis in...

Turkey's central bank ends string of interest rate cuts

Jan. 20, 2022 09:42 AM EST

ANKARA, Turkey (AP) — Turkey’s central bank kept a key interest rate unchanged on Thursday, halting a string of rate cuts that triggered a currency crisis and sent consumer prices skyrocketing. The bank’s Monetary Policy Committee said it decided to keep its policy rate...

In news conference marking 1st year in office, President Biden says central bank should bear down on fighting inflation

Jan. 19, 2022 16:21 PM EST
WASHINGTON (AP) — In news conference marking 1st year in office, President Biden says central bank should bear down on fighting inflation.

Turkey's deal with UAE to build foreign exchange reserves

Jan. 19, 2022 04:49 AM EST

ANKARA, Turkey (AP) — Turkey and the United Arab Emirates have agreed to a currency swap deal equivalent to $4.74 billion to boost Turkey’s depleted foreign exchange reserves, the Turkish central bank announced Wednesday. Under the agreement reached between their central banks,...

EXPLAINER: Are Turkey's efforts to fix the economy working?

Jan. 19, 2022 03:03 AM EST

ANKARA, Turkey (AP) — Turkey’s government and central bank have taken unconventional steps in recent weeks to prop up a beleaguered economy crippled by skyrocketing consumer prices, instead of ending a much-criticized plan to cut interest rates. President Recep Tayyip Erdogan’s...

Asian shares mostly lower after retreat on Wall Street

Jan. 18, 2022 23:07 PM EST

TOKYO (AP) — Asian shares fell in cautious trading on Wednesday after stocks on Wall Street sank to a new low for the year. Tokyo, Shanghai, Seoul and Sydney were lower while Hong Kong edged higher. Technology shares led the decline Tuesday on Wall Street....