central bank

SEOUL, South Korea | South Korea’s central bank cuts outlook on trade battle

SEOUL, South Korea — South Korea’s central bank cut its forecast on the country’s economy Thursday, citing mounting uncertainties from the U.S.-China trade battle. The Bank of Korea said it lowered its growth outlook on Asia’s fourth-largest economy to 2.9 percent this year, compared with its earlier forecast of 3 percent growth. The bank said … Continue reading SEOUL, South Korea | South Korea’s central bank cuts outlook on trade battle

FRANKFURT, Germany | ECB taking action to reduce bad loans at eurozone banks

FRANKFURT, Germany — The European Central Bank said Wednesday it is taking further steps to address the problem of bad loans burdening bank finances and clogging the flow of credit to the economy. The ECB said it would set expectations for each financial institution on putting aside adequate cash reserves to cover business loans that … Continue reading FRANKFURT, Germany | ECB taking action to reduce bad loans at eurozone banks

Head of Latvian Central Bank is detained for questioning

RIGA, Latvia/February 18, 2018 (AP)(STL.News) — The prime minister of Latvia says the country’s top central banker has been detained following questions from the national anti-corruption agency. Maris Kucinskis issued a statement Sunday confirming that Ilmars Rimsevics, a policymaker of the European Central Bank, was detained. On Saturday evening, Latvian state TV showed Rimsevics arriving … Continue reading Head of Latvian Central Bank is detained for questioning

European Central Bank keeps stimulus measures on track

FRANKFURT, Germany/December 14, 2017 (AP)(STL.NEWS) —With the eurozone economy showing strong growth, the European Central Bank left its interest rates and stimulus measures unchanged Thursday as it looks ahead to the delicate matter of ending its bond-purchase program next year. The Bank of England also left its key rate unchanged at 0.5 percent amid uncertainty … Continue reading European Central Bank keeps stimulus measures on track

European, Asian shares slip as investors watch central banks

HONG KONG /December 14, 2017 (AP)(STL.NEWS) —   European and Asian stocks slid Thursday following the interest rate hike by the U.S. Federal Reserve. Investor sentiment faltered after China and Hong Kong carried out modest hikes in tandem with the Fed, as British and European central bank decisions loomed. KEEPING SCORE: Germany’s DAX edged 0.1 … Continue reading European, Asian shares slip as investors watch central banks

Asian shares sag after Wall St pull-back, weak China data

TOKYO/October 31, 2017 (AP)(STL.News) — Shares were mostly lower Tuesday in Asia after markets retreated from their record highs overnight and China reported weak manufacturing data. KEEPING SCORE: Japan’s Nikkei 225 index lost 0.1 percent to 21,990.80 as the yen gained against the U.S. dollar, hurting exporters’ shares. Hong Kong’s Hang Seng fell 0.2 percent … Continue reading Asian shares sag after Wall St pull-back, weak China data