Latest Central bank Stories
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...
The European Central Bank Thursday trimmed its key lending rate to 2 percent as slumping European economies have surpassed inflation as its leading concern. A month ago, the bank made its steepest rate cut ever, The Washington Post reported.
The economic slowdown is pushing the Chinese central bank to keep more of its money close to home, reducing its appetite for U.S.
Japan's financial institutions are being offered $13 billion in emergency loans from the Bank of Japan, the central bank said Thursday. Kyodo news service reported that commercial banks and other financial institutions that bid for the low-interest loans will be able to borrow the money between Jan.
Japan's central bank cut the key interest rate to 0.1 percent from 0.3 percent Friday to bolster the economy and arrest the yen's appreciation. The Bank of Japan's second interest rate cut in three months came on the same day that the government forecast zero GDP growth for fiscal 2009 starting in April. Japan's export-driven economy, which is already in recession because of the global financial turmoil, has seen the yen appreciate sharply in recent weeks against the U.S.
The Bank of Canada reacted to the global economic crisis Tuesday by lowering its key interest rate by three-quarters of a percentage point to 1.5 percent. The outlook for the world economy has deteriorated significantly and the global recession will be broader and deeper than previously anticipated, the bank said in its release.
The Bank of Korea said Thursday it would receive $4 billion through a U.S.
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