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
Yousef Gamal El-Din | CNBC Egypt’s pound hit a record low against the dollar on Wednesday after its central bank hiked interest rates by 600 points and devalued the currency. The steps were meant to facilitate an agreement with the International Monetary Fund, which is expected to confirm the extension of its current $3 billion … Read more
Federal Reserve Chairman Jerome Powell arrives to testify during the House Financial Services Committee hearing titled “The Federal Reserve’s Semi-Annual Monetary Policy Report,” in Rayburn Building on Wednesday, June 21, 2023. Tom Williams | CQ-Roll Call, Inc. | Getty Images Federal Reserve Chair Jerome Powell on Wednesday reiterated that he expects interest rates to start … Read more
European Central Bank (ECB) President Christine Lagarde speaks as she presents the bank’s 2022 Annual Report to the European Parliament, in Strasbourg, eastern France, on February 26, 2024. Frederick Florin | AFP | Getty Images FRANKFURT — The European Central Bank will meet again this week amid falling inflation, a slight recovery in economic activity … Read more
Jerome Powell, chair of the Federal Reserve, during a House Financial Services Committee hearing in Washington, D.C., on June 21, 2023. Nathan Howard | Bloomberg | Getty Images Federal Reserve Chairman Jerome Powell heads to Capitol Hill on Wednesday with markets intent on getting more clarity about how the central bank plans on proceeding with … Read more
IBADAN, Nigeria – Feb. 19, 2024: Demonstrators hold placards during a protest against the hike in price and hard living conditions in Ibadan on February 19, 2024. Samuel Alabi | Afp | Getty Images Nigeria is battling to contain a historic currency crisis and soaring inflation, with the International Monetary Fund on Monday warning that … Read more
A trader works, as a screen displays a news conference by Federal Reserve Board Chairman Jerome Powell following the Fed rate announcement, on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 31, 2024. Brendan McDermid | Reuters The Bank of Japan and the Swiss National Bank have emerged … Read more
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
U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on Dec. 13, 2023. Liu Jie | Xinhua News Agency | Getty Images WASHINGTON â Federal Reserve officials indicated at their last meeting that they were in no hurry to cut interest rates and expressed both optimism and caution … Read more
