AZACUALPA, Honduras — The construction workers who went missing in the Baltimore bridge collapse all hailed from Mexico or Central America before they settled in the Maryland area. Police managed to close bridge traffic seconds before a cargo ship slammed into one of the Francis Scott Key Bridge’s supports early Tuesday, causing the span to … Read more
WARSAW, Poland — The majority of Poland’s r uling pro-European Union coalition lawmakers have taken steps Tuesday to bring the head of the central bank before a special court on allegations of acting against the country’s financial interests and abusing his powers. The motion to try National Bank of Poland chief Adam Glapiński before the … Read more
A pedestrian in the Lagos Island district of Lagos, Nigeria, on Monday, Nov. 14, 2022. Bloomberg | Bloomberg | Getty Images The Central Bank of Nigeria on Tuesday hiked its key interest rate by 200 basis points, as Africa’s largest economy looks to recover from a historic currency crisis and soaring inflation. The CBN announced … Read more
U.S. Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., March 20, 2024. Elizabeth Frantz | Reuters Central banks around the world reached a pivotal point this week, with Switzerland becoming the first major economy to cut interest … Read more
ANKARA, Turkey — Turkey’s central bank raised its key interest rate by 5 percentage points on Thursday, resuming a policy of rate hikes aimed at combating soaring inflation that is causing households severe economic pain. In a surprise decision, the central bank said it was raising the benchmark one-week repo rate to 50%. The bank … Read more
A picture taken on August 14, 2018 shows the logo of Turkey’s Central Bank at the entrance of its headquarters in Ankara, Turkey. ADEM ALTAN | AFP | Getty Images Turkey’s central bank on Thursday raised its key interest rate, the one-week repo rate, from 45% to 50%, citing the continuing need to counter climbing … Read more
A man wearing a Diego Maradona t-shirt walks by the Argentine Central Bank on November 30, 2023 in Buenos Aires, Argentina. Tomas Cuesta | Getty Images News | Getty Images Argentina is in the grip of a profound economic crisis, and one veteran economist believes part of the solution is for President Javier Milei to … Read more
Euros, U.S. dollars, Canadian dollars, Russian rubles and Czech korunas lie on a table as banknotes. Picture Alliance | Picture Alliance | Getty Images As inflation loosens its grip in most economies, investors are closely monitoring interest rate decisions, with markets expecting a slew of rate cuts this year. While rates in most economies are … Read more
European Central Bank policymakers on Thursday lowered their annual inflation and growth forecasts, as they confirmed a widely expected hold of interest rates. Staff projections now see economic growth of 0.6% in 2024, from a previous forecast of 0.8%. They presented a more positive picture on inflation, with the forecast for the year brought to … Read more
FRANKFURT, Germany — The European Central Bank left its key interest rate at a record high as it waits for more confirmation that toxic inflation is under control for good — even as high borrowing costs drag on the stalled economy. The decision Thursday comes as central banks around the world, including the U.S. Federal … Read more