Central banking
Forget rate hikes, these analysts are predicting interest rate cuts next year
Some central bank watchers believe the Fed and the ECB will have to stop their tightening cycles because of an upcoming recession. Olivier Douliery | AFP | Getty Images Central banks around the world might have embarked upon a path of aggressive rate hikes — but not everyone is expecting this approach to last. The […]
Read More
Watch Fed Chair Powell talk live about the economy, interest rates at ECB forum
[The stream is slated to start at 9 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell speaks Wednesday to a European Central Bank forum on central banking. The Fed and its global counterparts have been in a race to tamp down […]
Read More
Fed’s Mester backs 75 basis point hike in July if conditions remain the same
Cleveland Fed President Loretta Mester takes part in a panel convened to speak about the health of the U.S. economy in New York November 18, 2015. Lucas Jackson | Reuters Federal Reserve Bank of Cleveland President Loretta Mester said Wednesday that if economic conditions remain the same when the U.S. central bank meets to decide […]
Read More
European Central Bank member Holzmann says there’s ample room to hike to cool surging inflation
The ECB is heading to a critical meeting in July with a rate rise expected and investors awaiting details of its new fragmentation tool. Daniel Roland | Afp | Getty Images A member of the European Central Bank told CNBC Wednesday that there’s plenty of runway to hike interest rates, following the two planned raises […]
Read More
ECB’s chief economist sees double-sided risk of spiraling inflation and an economic slowdown
Philip Lane, chief economist of the European Central Bank. Bloomberg | Bloomberg | Getty Images European Central Bank Chief Economist Philip Lane said the Frankfurt institution will have to remain vigilant over the coming months with the prospect of inflation spiraling ever higher alongside the risk of a consumer-led slowdown the region. “With the uncertainty, […]
Read More
New York Fed President John Williams says a U.S. recession is not his base case
New York Federal Reserve President John Williams said Tuesday he expects the U.S. economy to avoid recession even as he sees the need for significantly higher interest rates to control inflation. “A recession is not my base case right now,” Williams told CNBC’s Steve Liesman during a live “Squawk Box” interview. “I think the economy […]
Read More
Turkish lira whipsaws following new loan ban that’s set to affect thousands of companies
A money changer holds Turkish lira and U.S. dollar banknotes at a currency exchange office in Ankara, Turkey December 16, 2021. Cagla Gurdogan | Reuters Turkey’s currency, the lira, enjoyed a much-welcomed boost on Monday and the preceding Friday after the country’s banking regulator announced a ban on lira loans to companies holding what it […]
Read More
Norway announces 50 basis point hike to interest rates, largest for 20 years
Norway’s central bank, also known as Norges Bank, in Oslo, Norway. Kristian Helgesen/Bloomberg | Bloomberg | Getty Images Norway’s central bank announced a 50-basis-point hike to its benchmark interest rate on Thursday, the country’s largest single increase since 2002. The move takes the policy rate from 0.75% to 1.25%, and Norges Bank Governor Ida Wolden […]
Read More
Russia’s ruble is at its strongest level in 7 years despite massive sanctions. Here’s why
Russian one ruble coin and Russian flag displayed on a screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on March 8, 2022. Jakub Porzycki | Nurphoto | Getty Images Russia’s ruble hit 52.3 to the dollar on Wednesday, an increase of roughly 1.3% on the previous day and its strongest […]
Read More
Canada inflation rate gallops to near 40-year high, calls for supersized rate hike mount
The Bank of Canada raised interest rates to 1.5% from 1.0% this month and said it was ready to act “more forcefully” if needed to tame inflation. David Kawai | Bloomberg via Getty Images Canadian consumer prices increased in May at rates not seen since January 1983, surging past analyst forecasts, largely driven by pricey […]
Read More