BUCHAREST, Sept 30- Romania's central bank cut its benchmark interest rate to a new record low of 3 percent on Tuesday, as benign inflation gave it room to help an economy that has dipped into recession.» Read More
South Korea's central bank held interest rates steady for a fourth consecutive month on Friday, brushing aside growing local inflation but mindful that persistent financial turbulence was clouding the global economy.
You can feel the tension building ahead of Friday's jobs data. The November employment report will be a major factor driving Friday's markets and is also possibly the most important economic headline ahead of the Fed's interest rate decision Tuesday.
Ok, now that my eyes are blurry and my head is spinning, I realize that all the details the Treasury Department gave today make this plan sound far more complicated than even I imagined. Not only is this a case by case analysis of many different facets of a borrower's credit-worthiness, it also requires each and every borrower to contact their lender on their own.
Stocks closed sharply higher on hopes that a government plan to stem home foreclosures would help ease the housing slump's drag on the economy and underpin profit growth.
I was reading the report from the Mortgage Bankers Association this morning on delinquencies and foreclosures. None of it was particularly unexpected, but I was struck by one aspect, and that is the amount of prime loans that are going into foreclosure.
The European Central Bank kept rates on hold at 4 percent as expected on Thursday, bucking a global trend of monetary easing amid increased turmoil in the financial markets.
If the Fed cuts rates, this mortgage lender goes much, much higher.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
The Bank of England cut its main rate by a quarter of a percentage point to 5.5 percent Thursday amid fears of an economic slowdown because of a spillover from the credit crunch.
The Bush Administration's plan to help struggling homeowners avoid foreclosure is the big item on the agenda for Thursday. The plan, already drawing criticism, will be announced by the president in the afternoon and is expected to include a five-year freeze on the resetting of some of the low introductory, teaser rates that drew in many of the weakest borrowers.
New Zealand's central bank held interest rates steady on Thursday at 8.25 percent as expected, and said it was likely to keep them there for longer than it had previously thought because of increasing inflation concerns.
With major central banks cutting rates right and left, the European Central Bank risks being the only one fighting the monetary-easing trend. But there seems to be no other option for the ECB.
The Bank of England is still expected to hold interest rates at 5.75 percent on Thursday, but analysts say it is a close call, as expectations shifted towards the possibility of monetary easing following weak economic data.
Verbal intervention to try to stop the euro's advance is all that exporters will get for the moment, but if the going gets tough things may change, analysts say.
The United States is at an "elevated" risk of economic recession because of housing woes, faltering confidence within financial markets and high oil prices, the nonpartisan Congressional Budget Office said Wednesday.
Growth in the U.S. service sector slipped in November, indicating some parts of the economy were feeling the effects of the housing downturn and credit market strains, according to a report released Wednesday.
Selling in the financial sector bit into Tuesday's stock market performance and could do the same Wednesday. After the bell Tuesday, Fannie Mae announced that it was issuing $7 billion in preferred stock and chopping its dividend by 30 percent.
Australia's central bank skipped a chance to raise interest rates on Wednesday as turmoil in global credit markets clouded the outlook for the world economy, even as economic growth at home hit a three-year high.
If cutting interest rates could help ease America’s pain, might the Fed cut by 50 basis points?
Abby Joseph Cohen, chief investment strategist at Goldman Sachs, says the U.S. economy will rebound in mid-2008, but the next few months will be bumpy.
Stocks closed lower as investors worried about the impact of the credit crisis on the financial sector and on the wider economy.