Central banking
Powell squashes the possibility that the Fed will develop its own digital currency
Key Points Fed Chair Jerome Powell asserted Tuesday that the central bank will not develop its own digital currency as long as he is in charge, ending several years of speculation. Over the years, multiple officials have raised concerns, with most saying there was no obvious need for a CBDC and citing concerns over privacy […]
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Fed Chair Powell says central bank doesn’t ‘need to be in a hurry’ to lower interest rates further
Key Points Fed Chair Jerome Powell reiterated the central bank’s commitment to bringing inflation down and signaled that policymakers aren’t in a rush to get interest rates lower. Powell’s comments came in the first of two appearances this week on Capitol Hill. Source
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Watch Fed Chair Powell testify live before the Senate Banking Committee
[The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell delivers his semiannual remarks on monetary policy and the economy this week on Capitol Hill. First up will be an appearance Tuesday before the Senate […]
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Bank of England’s Bailey says UK can’t avoid U.S. tariff impact — even if it’s not in the direct firing line
Andrew Bailey, Governor of the Bank Of England, pauses before the start of the Monetary Policy Report press conference at the Bank Of England on February 6, 2025 in London, England. Kin Cheung – WPA Pool | Getty Images News | Getty Images Even if the U.K. is not the “direct recipient” of potential tariffs […]
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India likely to cut benchmark rates for the first time in nearly five years as economy slows, inflation eases
The newly appointed Reserve Bank of India (RBI) governor Sanjay Malhotra leaves after addressing a press conference, in Mumbai on December 11, 2024. Indranil Mukherjee | Afp | Getty Images India’s central bank will likely cut benchmark interest rates in its policy meeting that’s underway, as easing inflation offers it room to stimulate a faltering […]
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Bank of England to resume rate cuts with outlook complicated by tax hikes and Trump tariffs
The Bank of England is widely expected to cut interest rates on Thursday, amid a complex backdrop of a tepid domestic growth outlook, an upcoming hike in taxes paid by businesses and U.S. President Donald Trump’s market-rattling tariff threats. As of Wednesday morning, Money markets were pricing in a 98% probability of a quarter-point rate […]
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World’s demand for gold hit another record high last year; appetite for bullion in 2025 remains firm
“In 2024, global gold demand surged to a new quarterly high and a record annual total bolstered by heightened geopolitical and economic uncertainties,” said Shaokai Fan, global head of central banks at the World Gold Council. Shannon Stapleton | Reuters The world’s demand for gold hit another record high in 2024 amid robust central bank […]
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Watch: ECB President Christine Lagarde speaks after rate decision
[The stream is slated to start at 8:45 a.m. ET. Please refresh the page if you do not see a player above at that time.] European Central Bank President Christine Lagarde is giving a press conference following the bank’s latest monetary policy decision. Follow CNBC’s ECB live blog here. The European Central Bank announced a 25-basis-point […]
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European Central Bank set to trim interest rates for fifth time since June
The European Central Bank is widely expected to announce yet another interest rate cut on Thursday, in what would be the fifth reduction since the central bank began easing monetary policy in June last year. Markets were last pricing in an over 90% chance of a 25-basis-point cut on Thursday, which would bring the ECB’s […]
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Fed holds rates steady, takes less confident view on inflation
Key Points The Federal Reserve left unchanged its overnight borrowing rate in a range between 4.25%-4.5%. The decision followed three straight cuts since September 2024. The post-meeting statement offered a somewhat more optimistic view on the labor market while dropping a key reference from the December statement that inflation “has made progress toward” the Fed’s […]
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