Latest Central bank interest rates News

Stocks slump as Wall Street’s big rally fades, yields rise

Oct. 05, 2022 12:33 PM EDT

NEW YORK (AP) — Stocks fell in afternoon trading on Wall Street Wednesday and gave back some of their big gains from earlier this week as rising bond yields amp up pressure on markets again. The S&P 500 fell 0.8% as of 12:16 p.m. Eastern. The benchmark index is coming off its...

Hong Kong shares soar 5%, leading Asian market gains

Oct. 05, 2022 01:13 AM EDT

TOKYO (AP) — Hong Kong’s share benchmark soared more than 5% on Wednesday as Asian shares tracked gains on Wall Street. New Zealand’s share benchmark rose 0.7% after its central bank hiked its benchmark interest rate to 3.5%, saying inflation remained too high and labor...

US job openings sink as economy slows, cost to borrow rises

Oct. 04, 2022 12:21 PM EDT

WASHINGTON (AP) — The number of available jobs in the U.S. plummeted in August compared with July as businesses grow less desperate for workers, a trend that could cool chronically high inflation. That is good news for the Federal Reserve in its efforts to bring down high prices...

Australian central bank lifts cash rate to 9-year high 2.6%

Oct. 04, 2022 01:19 AM EDT

CANBERRA, Australia (AP) — Australia’s central bank on Tuesday boosted its benchmark interest rate for a sixth consecutive month to a nine-year high of 2.6%. The Reserve Bank of Australia’s increase of a quarter percentage point to the cash rate was smaller than those at recent...

Asian shares rise after 'relief rally' on Wall Street

Oct. 04, 2022 00:07 AM EDT

TOKYO (AP) — Asian shares rose Tuesday, encouraged by a rally in U.S. shares after some weak economic data raised hopes that the Federal Reserve might ease away from aggressive interest rate hikes. Japan's benchmark Nikkei 225 added 2.3% in morning trading to 26,811.08. Australia's...

Record inflation squeezes Turkish tobacco workers, owners

Oct. 03, 2022 07:03 AM EDT

CELIKHAN, Turkey (AP) — Mehmet Emin Calkan begins work harvesting a tobacco field in rural Turkey before dawn, then has another shift skewering and stringing the tobacco to dry under the sun. The 19-year-old, who hopes to study electronic engineering, has undertaken the strenuous...

South Florida home prices fall, but key issue remains

Oct. 01, 2022 03:14 AM EDT

MIAMI (AP) — Housing prices fell again last month in Miami-Dade County and dipped for the first time in months in neighboring Broward County, an uplifting sign for aspiring home buyers. Miami-Dade’s median sale price dwindled to $551,250 for a single-family home in August, down...

Brainard warns US rates to stay high, notes global impact

Sep. 30, 2022 13:40 PM EDT

WASHINGTON (AP) — Federal Reserve Vice Chair Lael Brainard said Friday that U.S. interest rates will likely have to remain high for an extended period to combat inflation, capping a week of tough rhetoric by Fed officials. In remarks at a conference hosted by the Federal Reserve...

Resilient US consumers spend slightly more in August

Sep. 30, 2022 13:14 PM EDT

WASHINGTON (AP) — Consumers spent a bit more in August than the previous month, a sign the economy is holding up even as inflation lifts prices for food, rent, and other essentials. Americans boosted their spending at stores and for services such as haircuts by 0.4% in August,...

Inflation hits record 10% in 19 EU countries using euro

Sep. 30, 2022 07:27 AM EDT

FRANKFURT, Germany (AP) — Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of the globe's major economies as higher prices undermine consumers' spending power. ...