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Latest Central bank Stories

2009-09-10 13:19:08

The central Bank of Canada announced Thursday it was leaving its rate at the record low of 0.25 percent likely until the middle of next year to spur recovery. The bank's statement from Ottawa showed optimism not only for Canada, but elsewhere in the world. Following a deep, synchronous recession, recent indicators point to the start of recovery in major economies, supported by aggressive policy stimulus and the stabilization of global financial markets, the bank said. Stimulative monetary and...

2009-08-06 09:43:06

The Bank of England kept its commercial bank lending rate at 0.5 percent Thursday, but said it would increase its asset purchasing plan to $294 billion. The bank added $84 billion to the program, though there have been increasing signs that output in the UK's main export markets is stabilizing, the bank said in a statement. The central bank said financial markets had improved a little "¦ although financial conditions remain fragile. Confidence in business conditions has picked up,...

2009-07-29 17:56:53

The European Central Bank said financial lending had shown signs of improving in the second quarter for businesses and home buyers. The report said business loans had reached a turning point, with a slowdown in a recent trend of increased restrictions. Demand for home loans also rose for the first time since the first quarter of 2006, Financial Times reported Wednesday. The report said an ECB program to add $620 billion in one-year loans into the 16-nation eurozone was nudging banks to...

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2009-07-06 15:10:20

European Central Bank President Jean-Claude Trichet said he was very clear in his support of the U.S. dollar as the primary central bank reserve currency. In advance of a Group of Eight summit scheduled to begin in Italy Wednesday, finance ministers from China, Russia and elsewhere have questioned whether or not the dollar's is still up for the job of stabilizing international transactions. French Finance Minister Christine Lagarde said leaders should discuss the balance of currencies and...

2009-05-19 06:45:00

SHANGHAI, May 19 /PRNewswire-FirstCall/ -- JA Solar Holdings Co., Ltd., (Nasdaq: JASO) a leading manufacturer of high-performance solar products, today announced financial results for its first quarter ended March 31, 2009. (Logo: http://www.newscom.com/cgi-bin/prnh/20090309/JASOLARLOGO) First Quarter 2009 Results Revenue in the first quarter of 2009 was RMB 231.7 million ($33.9 million), a decrease of 79.4 percent from RMB 1.1 billion ($164.2 million) in the first quarter of 2008 and a...

2009-04-24 09:36:31

The United States is taking too long at economic recovery actions and is affecting other countries' efforts, the chief of the Bank of Canada said. Timely and credible action is required to address the impaired assets on bank balance sheets and to restore the normal flow of credit -- a precondition for sustained economic recovery, Mark Carney, the bank's governor, said. Progress on these measures has been slower than expected in the United States and other major financial centers. Carney's...

2009-04-21 13:38:31

The Bank of England said Tuesday lending to businesses grew in March and would likely continue to grow in the next three months. Analyzing data from six banks, England's central bank said lending to businesses grew from $13 billion in February to $17.4 billion in March, The Times of London reported. Although much of the lending was due to refinancing or restructuring debt, some lenders expect the overall availability of credit to the corporate sector to increase over the next three months,...

2009-04-21 11:00:27

Sweden's Riksbank cut its repo rate 0.5 percentage points to 0.5 percent Tuesday, citing a decline in economic conditions. The deterioration in global economic activity has hit Sweden hard, the bank said in a statement. The bank noted a substantial drop in exports, a rapidly declining labor market and weak consumer spending. A lower rate was needed to counteract production and employment being too weak and to attain the inflation target of 2 percent, the bank said, noting rates would remain...

2009-04-21 09:40:48

Canada's central bank lowered its key lending rate as low as possible Tuesday, cutting it a quarter percentage point to 0.25 percent. In a statement from Ottawa, the Bank of Canada cited continued high uncertainty and weaker-than-expected activity in all major economies as the rationale. Bank policy is that the one-quarter percent lower bound prevents short-term money market disruptions. The statement said despite aggressive monetary and fiscal policy actions among the Group of 20 countries,...

2009-04-02 13:57:58

The European Central Bank said Thursday it would lower its key lending rate a quarter of a percentage point to 1.25 percent, effective April 8. The reduction takes into account the expectation that price pressures will remain subdued, bank President Jean-Claude Trichet said in a statement in Frankfurt, Germany. The world economy, including the euro area, is undergoing a severe downturn, he said, noting, both global and euro area demand are likely to remain very weak over 2009, before...


Word of the Day
holluschickie
  • A 'bachelor seal'; a young male seal which is prevented from mating by its herd's older males (mated bulls defending their territory).
This comes from the Russian word for 'bachelors.'
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