BEIJING, March 8- It will be hard for China to avoid short-term economic pain from interest rate reforms, central bank governor Zhou Xiaochuan was quoted by state television on Saturday as saying.» Read More
The European Central Bank injected 94.841 billion euros ($129.74 billion) into euro-zone money markets on Thursday to help calm to jittery markets roiled by credit problems.
The revelation that a unit of French bank BNP Paribas temporarily suspended three of its funds injected new fear into the markets, driving global stock sharply lower and casting a fresh chill across credit markets. The market fallout from BNP has reignited market speculation that the Fed will move to cut rates sooner, rather than later.
Should you be getting ready to buy the dips? Sounds more sensible than trying to forecast shark attacks.
South Korea's central bank surprised markets on Thursday with its first ever back-to-back monthly rise in interest rates, aiming to rein in surging money growth, in a move which sent bond prices plunging but boosted the won.
The yen fell across the board Wednesday, after a Federal Reserve statement cooled expectations for a near-term U.S. interest rate cut and boosted stocks and other riskier assets.
U.S. mortgage applications rose for the first time in three weeks as interest rates fell sharply and demand surged for home purchase and refinance loans, an industry group said Wednesday.
The Fed's comments yesterday calmed some of the credit angst in the markets and set the stage for a move higher in global equities. U.S. stocks are positioned to trade higher this morning, and Cisco's strong earnings news is adding some punch to the Nasdaq.
Australia's central bank raised interest rates to a decade-high of 6.5% on Wednesday, as expected, saying higher borrowing costs were needed to check inflation.
1st paragraph of story should go here
The Federal Reserve's statement today did not change the view of most economists and strategists according to a CNBC Econ-Recon Snap Survey. A strong majority believe the Fed will keep rates unchanged at its next meeting in September. The survey of almost 60 of Wall Street's top economists and strategists was conducted for one hour immediately following the Fed's announcement.
The dollar edged higher against the euro but a touch lower versus the yen Tuesday, after the Federal Reserve kept U.S. interest rates steady as expected, and inflation remained its primary concern.
The Federal Reserve left a key interest rate unchanged on Tuesday as worries about inflation trumped concerns about turbulent financial markets. Fed Chairman Ben Bernanke and his colleagues voted unanimously to keep their target for the federal funds rate, the interest that banks charge each other, at 5.25 percent, where it has been for more than a year.
top bond fund manager said the Federal Reserve will ultimately need to lower interest rates in order to counteract a slowdown in the U.S. economy.Bill Gross, founder and manager of the PIMCO Total Return Bond Fund said the Fed's decision to keep interest rates unchanged at 5.25% was expected but future action should be taken.
The U.S. Federal Reserve is expected to hold overnight interest rates steady and reaffirm concerns about inflation at its meeting on Tuesday, but may also acknowledge emerging signs of economic weakness.
The Bernanke Fed is being put to its first big test as Fed watchers monitor its handling of the credit drama when it releases its statement at 2:15 p.m. The Fed's one day meeting is not expected to end with any adjustment in rates, but traders are hoping for a tweaking of the Fed statement with language that will soothe some of the anxiety about mortgage and credit markets.
The dollar rebounded against the yen on Monday, riding a rally in U.S. stocks ahead of Tuesday's Federal Reserve meeting. The U.S. currency nearly hit an all-time low against the euro, however, and remained weak against other major currencies amid concern over the health of the U.S. economy.
Stocks are finding their feet on higher ground this morning as a positive tone embraces equities markets worldwide. Oil continues to back down from the new high struck earlier this week.
Let me just preface by saying that I don't make a habit of commenting on what other colleagues at CNBC say. It's neither prudent, nor necessary. I also didn't even plan on blogging this week; I'm on vacation for crying out loud! But my BlackBerry was buzzing off the base this weekend, with housing bloggers begging me to respond to Jim Cramer's outcry on Friday about the Fed and the mortgage market. So let me just blog here respectfully.
U.S. stocks futures are slightly firmer ahead of the opening in a market still cranky about credit worries and pondering the Fed's next move. European stock markets are mixed after trading lower this morning, and Asian stocks were lower overnight.
The recent market selloff has been quick and painful for many investors but market strategists say large cap multinational U.S. companies remain a good bet as the globalization story remains intact.