Latest Central bank Stories
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,...
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
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.
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,
China Monday called for the U.S.
The Bank of Japan said Tuesday it was considering accepting $10 billion of subordinated loans and bonds from commercial banks to spur lending. Bank Gov.
Eurozone interest rates were cut Thursday to an all-time low in response to the worst recession in continental Europe since World War II, officials said. The European Central Bank cut its main interest rate from 2 percent to 1.5 percent.
The European Central Bank said Thursday it would lower its key lending rate 50 basis points to 1.5 percent.
Lending rates fell in Canada Tuesday after the Bank of Canada cut its central lending rate to 0.5 percent from 1 percent, the lowest ever. The country's major banks all issued releases saying they were lowering their prime rates to 2.5 percent, effective Wednesday. In a statement issued in Ottawa, the central bank said the global economy had deteriorated further since January among major countries. The nature of the U.S.
Italian Finance Minister Giulio Tremonti in Davos, Switzerland, said he was in favor of establishing a European Union bond. With Italy's debt-to-gross domestic product ratio over 100 percent, lenders are demanding higher returns on Italian bonds, the European Observer reported Monday. Speaking at the World Economic Forum last week, Tremonti said, I am speaking of a political issue not an economic issue â€¦ now we need a union bond. The concept is not universally appealing to European...