Central banking

A Chinese woman check stock prices at a brokerage in Beijing on Friday, July 19, 2019. Asian shares rebounded Friday on hopes for progress in trade talks between China and the U.S., extending overnight gains on Wall Street. (AP Photo/Ng Han Guan)
July 18, 2019 - 10:22 pm
BANGKOK (AP) — Asian shares rebounded Friday on hopes for progress in trade talks between China and the U.S., extending overnight gains on Wall Street. Japan's Nikkei 225 index jumped 1.9% to 21,449.27 while Hong Kong's Hang Seng climbed 1.1% to 28,772.46. The Shanghai Composite index rose 1% to 2,...
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FILE - This June 13, 2019, file photo shows a new home is for sale in Mechanicsville, Va. On Thursday, July 18, Freddie Mac reports on this week's average U.S. mortgage rates. (AP Photo/Steve Helber, File)
July 18, 2019 - 10:29 am
WASHINGTON (AP) — U.S. long-term mortgage rates rose this week after three weeks of holding steady, tipped higher by expectations that the Federal Reserve could reduce interest rates soon. Mortgage buyer Freddie Mac said Thursday the average rate on the benchmark 30-year mortgage increased to 3.81...
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July 17, 2019 - 6:52 pm
SEOUL, South Korea (AP) — South Korea's central bank has cut its policy rate for the first time in three years to combat a faltering economy that faces further risks from a heated trade dispute with Japan. The Bank of Korea on Thursday lowered the key interest rate by a quarter percentage point to...
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U.S. Federal Reserve Chairman Jerome Powell speaks during a dinner hosted by the Bank of France in Paris, Tuesday, July 16, 2019. Finance officials from the Group of Seven rich democracies will weigh risks from new digital currencies and debate how to tax U.S. tech companies like Google and Amazon when they meet in the Paris suburb of Chantilly tomorrow. (AP Photo/Michel Euler)
July 16, 2019 - 11:53 am
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Tuesday that the 2008 financial crisis accelerated major changes in the U.S. and global economies, leading to slower growth, lower inflation and lower interest rates. Delivering remarks to a Paris economic conference, Powell said that...
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FILE - This March 28, 2018, file photo shows a Facebook logo at the company's headquarters in Menlo Park, Calif. Facebook’s ambitious plan to create a new financial system based on a digital currency faces questions from lawmakers, as it’s shadowed by negative comments from President Donald Trump, his Treasury secretary and the head of the Federal Reserve. (AP Photo/Marcio Jose Sanchez, File)
July 15, 2019 - 9:27 pm
WASHINGTON (AP) — Facebook's ambitious plan to create a financial eco-system based on a digital currency faces questions from lawmakers, as it's shadowed by negative comments from President Donald Trump, his treasury secretary and the head of the Federal Reserve. Congress begins two days of...
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Treasury Secretary Steve Mnuchin speaks during a news briefing at the White House, in Washington, Monday, July 15, 2019. (AP Photo/Carolyn Kaster)
July 15, 2019 - 3:23 pm
WASHINGTON (AP) — The Trump administration came out strongly Monday against Facebook's ambitious plan to create a new digital currency, as the Treasury chief warned it could be used for illicit activity such as money laundering, human trafficking and financing terrorism. Treasury Secretary Steven...
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FILE - In this July 1, 2019, file photo trader James Riley works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Monday, July 15. (AP Photo/Richard Drew, File)
July 15, 2019 - 7:22 am
NEW YORK (AP) — Stocks edged lower in early trading Monday on Wall Street as a decline in banks offset solid gains in technology companies. The losses follow record high finishes for every major stock index last week. The S&P 500 index also pushed above 3,000 for the first time. Citi led banks...
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FILE - In this Feb. 8, 2019, file photo the logo for Citigroup appears above a trading post on the floor of the New York Stock Exchange. On Monday, July 15, 2019, Citigroup Inc. reports financial results. (AP Photo/Richard Drew, File)
July 15, 2019 - 6:09 am
NEW YORK (AP) — Banking conglomerate Citigroup said its second quarter profits rose by 7% from a year ago, helped by higher interest rates, a lower tax rate and a strong economy. Citigroup is the first of the big Wall Street banks to report results this week. All the major banks are expected to...
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FILE - In this June 6, 2019, file photo specialist John Parisi, left, works with traders on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Friday, July 12. (AP Photo/Richard Drew, File)
July 12, 2019 - 7:17 am
NEW YORK (AP) — U.S. stocks were modestly higher in early morning trading on Friday, as declines in health care stocks were offset by gains in technology, consumer and industrial company stocks. The gains came a day after the Dow Jones Industrial Average closed above 27,000 points for the first...
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A woman walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, July 12, 2019. Shares in Asia are mostly higher after a turbulent day on Wall Street ended with the Dow Jones Industrial Average closing above 27,000 for the first time. (AP Photo/Eugene Hoshiko)
July 12, 2019 - 3:58 am
BANGKOK (AP) — World shares were mostly higher on Friday after Wall Street ended overnight with the Dow Jones Industrial Average closing above 27,000 for the first time. Germany's DAX edged 5.68 points higher to 12,337.80 while the CAC 40 in France surged 0.6% to 5,585.27. Britain's FTSE climbed 0...
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