Monetary policy
Stocks are mostly lower in Asia after Wall Street pulled back as surprisingly strong economic reports highlighted the difficulty of the Federal Reserve’s fight against inflation.
Turkey’s central bank has delivered another large interest rate cut despite inflation running at more than 85%.
Norway’s central bank has raised its key policy interest rate by a quarter-percentage point as other banks around the world also move to bring down inflation.
Asian stock markets have followed Wall Street lower after higher-than-expected U.S. inflation dashed hopes the Federal Reserve might ease off more interest rate hikes.
Turkey’s central bank has lowered its key interest rate despite inflation surging to nearly 80% and making it difficult for people to buy what they need.
Norway’s central bank has raised its key policy interest rate by half a percentage point, saying “inflation has been considerably higher than projected.
NEW DELHI (AP) — India’s central bank on Friday raised its key interest rate by 50 basis points to 5.4% in its third such hike since May as it focuses on containing inflation.
COPENHAGEN, Denmark (AP) — Norway’s central bank raised its key policy interest rate from 0.75% to 1.25% on Thursday, saying “the prospects for a more prolonged period of high inflation suggest a faster rise in the policy rate than projected earlier.”
PRAGUE (AP) — The Czech Republic’s central bank once again raised its key interest rate significantly Wednesday as it tried to combat soaring inflation.
Switzerland’s central bank has announced a one-half of a percentage point increase to a key interest rate Thursday, the first increase in nearly 15 years.
The Bank of England has raised interest rates by a quarter-percentage point, shrugging off pressure for a bolder move to combat price increases that have pushed inflation to a 40-year high.
Shares are mostly lower in Asia as investors watch for fresh signs of inflation. Crude oil prices hovered above $120 a barrel, adding to price pressures.
Bank of England Gov. Andrew Bailey has rejected criticism that the institution didn’t move quickly enough to quash inflationary pressures.
Shares are mixed in Asia with Chinese benchmarks pressing higher after a rally in technology companies helped reverse most of an early slide on Wall Street.
The Bank of England has raised its key interest rate to the highest level in 13 years. It comes as policymakers around the world combat inflation fueled by high energy prices, Russia’s war in Ukraine and lingering concerns about COVID-19.
NEW DELHI (AP) — India’s central bank on Wednesday raised its key interest rate to 4.4% from 4% to try to contain fast-rising inflation.
Turkey’s central bank has kept its main interest rate unchanged for a fourth month running even as surging inflation has hit a 20-year high and eroded people’s purchasing power.
Asian shares are mostly higher after an advance on Wall Street that ended a three-day losing streak. Tokyo, Hong Kong and Shanghai advanced while Seoul edged lower.
WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting ended:
Indicators of economic activity and employment have continued to strengthen.
Indicators of economic activity and employment have continued to strengthen.
Turkey’s central bank kept its key interest rate unchanged for a second consecutive month despite soaring inflation that has left many in the country struggling to purchase food and basic goods.
TOKYO (AP) — The Bank of Japan made an offer for unlimited government bond purchases Monday, moving to curb a surge in long-term interest rates in the world’s third-largest economy.
The Bank of England has raised interest rates for the second time in three months. That decision Thursday puts the United Kingdom far ahead of the rest of Europe and the U.S. in moving to tame surging inflation that’s squeezing consumers and businesses.
Turkey’s central bank has kept a key interest rate unchanged, halting a string of rate cuts that triggered a currency crisis and sent prices skyrocketing.
Lael Brainard pledged in written remarks to help the Federal Reserve fight a spike in inflation while still supporting the economic recovery — a tricky balancing act she would face if confirmed as the Fed’s No. 2 official.
Asian stock markets have followed Wall Street higher after Federal Reserve chairman Jerome Powell said U.S. interest rates might be raised earlier than planned.
PRAGUE (AP) — The Czech Republic’s central bank has again aggressively moved to increase its key interest rate in a continuing effort to tame soaring inflation.
BERLIN (AP) — The new German government has chosen an experienced central banker and former board member of Germany’s state-owned development bank to head the country’s central bank, the finance minister said Monday.
____
UK raises interest rates as central banks focus on inflation
LONDON (AP) — The United Kingdom’s central bank has become the first in a major advanced economy to raise interest rates since the coronavirus pandemic began.
UK raises interest rates as central banks focus on inflation
LONDON (AP) — The United Kingdom’s central bank has become the first in a major advanced economy to raise interest rates since the coronavirus pandemic began.
The United Kingdom’s central bank has become the first in a major advanced economy to raise interest rates since the coronavirus pandemic began.
Turkey’s Central Bank has again cut interest rates despite soaring consumer prices that are making it difficult for people to buy food and other basic goods.
Asian shares are falling as worries about inflation set off expectations the U.S. Federal Reserve might accelerate its plans to raise interest rates.