Nineteen of 20 analysts polled by Reuters expect the Banco de Mexico to hold its benchmark rate at 3 percent in its first policy decision statement at 1 p.m. local time on Thursday instead of the previous release time on Friday morning. "It is worth noting that previous rate cuts in Mexico have come as a surprise and that could be the case again this month," economist...» Read More
The People's Bank of China said on Tuesday it would raise its deposit rates by 27 basis points as of Wednesday "to stabilise inflation expectations."
A global credit crunch pushed German investor morale to its lowest level in eight months in August, raising pressure on the European Central Bank (ECB) to keep interest rates on hold for the time being.
Persimmon posted a 9.8% rise in first-half pretax profit on Tuesday and as the U.K. housebuilder said it expected the U.K. housing market to continue to grow despite recent rises in interest rates.
Senate Banking Chairman Christopher Dodd told CNBC he believes the Federal Reserve was lax in its responsibilities by not preventing the surge of subprime mortgage loans. Dodd also said he will meet with Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson on Tuesday morning.
Beneath a fairly quiet August day with unexceptional volume, the markets continued to reveal an underlying nervousness.
I'm out of the office for a few days this week (have to take the time off--or lose it) but I will be posting some of your email replies to my recent posts. Here goes then. From Daniel D. in Illinois: Everyone seems to concentrate on the defaults and foreclosures. The real threat I see are the loans that reset that don't result in defaults. The new terms will be higher than the old terms, maybe not enough to cause a default, but the increase will come right out of disposable income.
Investors may soon get what they are clamoring for: a cut in the benchmark federal funds rate. But they should be careful for what they wish for. Economists say that if the Fed cuts the overnight bank lending rate before a scheduled Sept. 18 meeting, it would result from the near-panic market conditions seen last week.
Thornburg Mortgage's president Larry Goldstone told CNBC Monday that there is still a crisis of investor confidence in the mortgage market but that the residential mortgage lender expects to be profitable.
Fed Chief Bernanke embraced the moral hazard and decided to act. The Fed blinked, cut the discount rate, and markets in Europe exploded out of the gates this Monday morning.
Investors will be watching every move by the Federal Reserve for buy and sell cues after learning last week that more aggressive monetary policy moves can spark explosive reactions in the financial markets. Analysts say they see credit turmoil only temporarily arrested by the Federal Reserve's surprise cut in the discount rate.
Wall Street is set for a higher open after world stock markets rebounded in a Fed-inspired relief rally. Tokyo stocks were up 3%, the biggest gain in more than a year, in its first trading day since the Fed move. European stock markets, up sharply Friday, continue to rise this morning.
Given the dramatic volatility of recent weeks, CNBC has put together a survival guide for investors. Here's a sampling of what our experts had to say during the week.
Cramer was right: In order to save the market from a devastating credit crunch, Bernanke and company had to cut the discount rate. Today, that is what happened.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.
Presidential candidate Sen. John McCain (R-Ariz.) joined CNBC's Larry Kudlow on "Kudlow & Co." to discuss the economic strategy he would pursue if he were elected America's commander-in-chief in 2008.
An extraordinary number of rumors are floating around this afternoon...this time about additional actions the Fed may take late today or over the weekend.
The dollar fell broadly Friday after the Federal Reserve slashed the interest rate it charges on loans to banks, and said economic growth could slow in light of tightening credit markets.
By an overwhelming 96% majority, the Wall Street money managers, investment strategists and economists responding to a CNBC Trillion Dollar Snap Survey today, say the Federal Reserve "did the right thing" when it lowered the discount rate this morning.
On Friday, the Federal Reserve announced that it had approved a 50 basis-point cut in the discount rate it charges for loans made directly to banks, via its regional Federal Reserve lenders . Was the discount-rate cut merely in reaction to a temporary credit crunch -- or a sobering signal that Fed Chairman Ben Bernanke perceives deeper troubles in the U.S. financial sector? CNBC's Market Task Force and expert guests took on the question -- and offered survival advice to investors.
From commodities and construction materials to interest rates and mortgage lenders, the state of real estate is at the forefront of most business and financial debates. But some say opportunities still exist -- if you know where to look. CNBC's crack team of reporters dug into the real estate market from every angle. Here is a sampling of what they found.
Mayhem continued to roil the mortgage market this week, as the subprime problem seemed to permeate the lending landscape. The Federal Reserve added money to the banking system again to prevent any full-blown credit crunch, but there were casualties big and small just the same