central bank

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

ANKARA, Turkey | Turkish lira further weakens, nearing record low

ANKARA, Turkey  — The Turkish lira has further weakened against the dollar amid investors’ move away from emerging markets and concerns over President Recep Tayyip Erdogan economic policies. The lira dropped 4.11 percent on Thursday, trading at around 6.73 against the dollar and moving closer to the record low of 7.24 it hit earlier this … Continue reading ANKARA, Turkey | Turkish lira further weakens, nearing record low

WASHINGTON | Fed minutes suggest further rate hikes coming ‘soon’

WASHINGTON  — Federal Reserve officials earlier this month said that a strong economy meant that it would “likely soon be appropriate” to boost their benchmark interest rate for a third time this year. But minutes of their discussions also revealed deepening concerns about how the economy would fare under the Trump administration’s trade policies and … Continue reading WASHINGTON | Fed minutes suggest further rate hikes coming ‘soon’

ANKARA, Turkey | Turkish Central Bank takes steps to provide liquidity

ANKARA, Turkey — Turkey’s Central Bank has announced a series of measures to help banks manage their liquidity, after the country’s finance chief said the government had readied an “action plan” to ease market concerns that led to a slump in the value of Turkish currency. The bank released a statement Monday saying it would … Continue reading ANKARA, Turkey | Turkish Central Bank takes steps to provide liquidity

Inflation, gas prices, tariffs squeeze consumers

The price of a can of Coca-Cola? Likely going up. A package of Pampers? That too. Plane tickets? They also may be more expensive. These items and more may cost more in the coming months as people start feeling the effects of higher fuel prices and raw-material costs as well as a range of tariffs. … Continue reading Inflation, gas prices, tariffs squeeze consumers

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