central bank

WASHINGTON | Fed announces new report on financial stability

WASHINGTON — The Federal Reserve said Friday it will begin issuing a new report twice a year assessing the stability of the U.S. financial system. The Fed said the first report will be issued on Nov. 28. It will provide information on potential financial vulnerabilities tracked by the central bank such as valuations for bank … Continue reading WASHINGTON | Fed announces new report on financial stability

FRANKFURT, Germany | European Central Bank sticks to plan to end stimulus

FRANKFURT, Germany — The European Central Bank said Thursday it is staying on course to wrap up its 2.5 trillion euro ($2.85 trillion) stimulus program at the end of the year, even as risks from trade protectionism, Italian populist policies, and Brexit loom ever larger. The central bank for to the 19 countries that use … Continue reading FRANKFURT, Germany | European Central Bank sticks to plan to end stimulus

SEOUL, South Korea | SKorean economy slows in Q3 as domestic investment lags

SEOUL, South Korea  — South Korea has reported that its economy grew at a slower annual pace during the July-September period as slumping domestic investment negated modest gains in consumption and exports. The Bank of Korea said Thursday the country’s gross domestic product grew at a 2 percent annual pace in July-September, down from 2.8 … Continue reading SEOUL, South Korea | SKorean economy slows in Q3 as domestic investment lags

WASHINGTON | Fed chairman defends gradual pace of rate hikes

WASHINGTON — Federal Reserve Chairman Jerome Powell said Wednesday he believes the central bank’s current pace of gradually hiking interest rates is the right policy and criticism from President Donald Trump has not altered its approach. Powell said that even with the Fed’s third hike this year, rates are at a low level that is … Continue reading WASHINGTON | Fed chairman defends gradual pace of rate hikes

BOSTON | Fed Chair Powell says gradual rate hikes best approach

BOSTON— Federal Reserve Chairman Jerome Powell says he sees no need to drop the central bank’s current gradual approach to raising interest rates. Powell says the current combination of steady, low inflation and very low unemployment show the country is going through “extraordinary times.” He says the central bank is trying to make sure it … Continue reading BOSTON | Fed Chair Powell says gradual rate hikes best approach

WASHINGTON | Trump to nominate economist Nellie Liang for Fed board seat

WASHINGTON— President Donald Trump is set to nominate former Federal Reserve economist Nellie Liang to the central bank’s board of governors, tapping an official who played a key role at the Fed in dealing with the aftermath of the 2008 financial crisis. White House spokeswoman Lindsay Walters confirmed the president’s intention, which was first reported … Continue reading WASHINGTON | Trump to nominate economist Nellie Liang for Fed board seat

BUENOS AIRES, Argentina | Argentina hikes interest rate to 60 percent; peso plunges

BUENOS AIRES, Argentina  — Argentina’s Central Bank on Thursday increased its benchmark interest rate to 60 percent — the world’s highest — in an effort to halt a sharp slide in the value of the peso, which plunged to a record low. The peso fell more than 15 percent against the dollar on Thursday, trading … Continue reading BUENOS AIRES, Argentina | Argentina hikes interest rate to 60 percent; peso plunges

BUENOS AIRES, Argentina | Argentina Central Bank hikes interest rate to 60 percent

BUENOS AIRES, Argentina — Argentina’s Central Bank has increased its benchmark interest rate to 60 percent in efforts to halt a sharp slide in the value of the peso. The sliding value of the currency prompted Argentina to seek a financing deal earlier this year with the International Monetary Fund and President Mauricio Macri now … Continue reading BUENOS AIRES, Argentina | Argentina Central Bank hikes interest rate to 60 percent