Despite predicting strong growth and employment, the central banker said the Fed would not hit its inflation target until 2016.» Read More
Investors should continue to invest in defensive stocks in strong dividend sectors like telecommunications, technology and pharmaceuticals, said Willem Nabarro, head of European equities for Asia at Exane-BNP Paribas on Tuesday.
Investors around the world are trying to gauge the moment when the world's major central banks begin to push interest rates back up from historic lows. Which country raises first and fastest may set the tone for the global tightening of liduidity.
The number of counterfeit euro bank notes withdrawn from circulation rose 8 percent during the last six months of 2009, with the 20 euro ($28.80) bill the most widely forged, the European Central Bank said Monday.
Greek Finance Minister George Papaconstantinou told CNBC that his country is not looking for a financial bailout and that comments made by European Central Bank board member suggesting Greece may need one were “frankly not very helpful.”
Diego Iscaro from IHS Global Insight says he believes Greece will not be allowed to fail given the impact it would have on other euro zone members like Spain, Ireland and Portugal.
Analysts predict the U.S. currency will build on its end-of-the-year gains, but it will only be a modest rally on the back of the improving economy and higher interest rates.
Moody's smaller than expected downgrade of Greece's credit rating shows that markets are starting to believe the government's efforts to contain the budget deficit, Greek Finance Minister George Papaconstantinou told CNBC Tuesday.
"The dollar over the next year or two will tend to see downward pressure because our recovery will be fragile and uneven," says one economist.
The International Monetary Fund and the EU have pumped billions of euros in Central and Eastern European countries, but their economies are still suffering.
ECB chief Jean-Claude Trichet discussed exchange rates with euro zone finance ministers on Monday but said nothing new on a dollar slide that some fear could hurt Europe's economic recovery.
America and China have a problem. A very big multi-trillion dollar problem that shows no sign of going away whatever the financial crisis throws at it.
Australia's rate hike may not signal a stampede to raise rates. But smaller central banks could be tempted to tighten sooner rather than later.
On the last day of Sept. 2008, one of the wildest, scariest months in U.S. financial history, the Wall Street-Washington roller-coaster starts climbing again.
Monday starts out hopeful. By day's end, those hopes are dashed, as the House kills the bailout bill and stock markets plunge to new lows.
Global Finance Magazine recently graded 31 central bank chiefs in its "Central Banker Report Cards 2009" based on their performance. Here's a look at 15 key bankers and how they scored.
Twenty-two large banks in Europe may have accumulated credit losses of close to $580 billion for this year and next, the New York Times reports.
Sunrise: Congressional leaders from both parties emerge from intense talks to present a $700 billion financial rescue plan agreement on Sunday.
As events go, Saturday seems more sedate than it has in weeks. But it's a false calm, as Washington scrambles to find common ground on a financial rescue plan.
White House, legislators fail to teach agreement on the $700 billion financial bailout. U.S. shuts WaMu and JPMorgan grabs the assets.
Pres. Bush goes on TV Thursday and urges Congress to quickly pass a $700 billion rescue package for the U.S. financial system. Key lawmakers say they've reached an agreement, in principle, on the major parts of the plan.