Joachim Nagel, president of Deutsche Bundesbank, during the central bank’s “Annual Report 2023” news conference in Frankfurt, Germany, on Friday, Feb. 23, 2024. Bloomberg | Bloomberg | Getty Images Losses incurred by the German central bank rocketed into the tens of billions in 2023 due to higher interest rates, requiring it to draw on the … Read more
Rain falls over the finance district and the European Central Bank (ECB) in Frankfurt, Germany. Thomas Lohnes | Getty Images News | Getty Images The European Central Bank on Thursday reported its first annual loss since 2004, following hefty payouts due to higher interest rates. It reported losses of 1.3 billion euros ($1.4 billion), which would … Read more
Turkish flag over a DenizBank building. Turkey is expected to head to the polls on Sunday. Ismail Ferdous | Bloomberg | Getty Images Turkey’s central bank held its key interest rate on Thursday, keeping it at 45% despite soaring inflation after eight consecutive months of hikes. The move was widely expected as the bank indicated … Read more
WASHINGTON – Federal Reserve officials indicated at their last meeting that they were in no hurry to cut interest rates and expressed both optimism and caution on inflation, according to minutes from the session released Wednesday. The discussion came as policymakers not only decided to leave their key overnight borrowing rate unchanged but also altered … Read more
Blurred buses pass the Bank of England in the City of London on 7th February 2024 in London, United Kingdom. Mike Kemp | In Pictures | Getty Images The Bank of England is likely to hold interest rates higher for longer before slashing them more sharply than expected in the second half of the year, … Read more
An editorialized picture of a falling graph against the Japanese flag. Natanael Ginting | Istock | Getty Images Japan’s central bank is expected to exit its negative interest rate regime this spring, though sluggish growth will limit its ability to alleviate depreciation pressure on the yen, according to a former Bank of Japan board member. … Read more
London was the No. 2 most-visited city in the world for 2023, according to Euromonitor International. Karl Hendon | Moment | Getty Images LONDON — U.K. inflation held steady at 4% year-on-year in January on the back of easing prices for furniture and household goods, food and non-alcoholic beverages. Month-on-month, the headline consumer price index … Read more
Newly appointed Governor of Turkish Central Bank, Fatih Karahan is seen in Ankara, Turkey on February 04, 2024. Emin Sansar | Anadolu | Getty Images Turkey’s newly appointed central bank governor, Fatih Karahan, has his work cut out for him, after being named to the job by presidential decree over the weekend following the sudden … Read more
Andrew Bailey, governor of the Bank of England (BOE), during the Monetary Policy Report news conference at the bank’s headquarters in the City of London, UK, on Thursday, Feb. 1, 2024. Bloomberg | Getty Images LONDON — Bank of England Governor Andrew Bailey on Thursday signaled that financial markets may be correct in their expectations for … Read more
Several bills, each with a value of 100 Chinese renminbi, lie on a table. Johannes Neudecker | Picture Alliance | Getty Images China’s factory activity expanded for a third-straight month in January, a private-sector survey showed on Thursday, helped by the first expansion in new export orders in seven months. Thursday’s print though, extended a … Read more