SAN FRANCISCO/ WASHINGTON, March 27- Federal Reserve Chair Janet Yellen signaled that the U.S. central bank will likely start raising borrowing costs later this year, even before inflation and wages have returned to health, but emphasized the return to normal interest rates will be gradual. The Fed has held short-term borrowing costs near zero since December...» Read More
Australia's central bank on Monday raised its forecasts for underlying inflation to above its 2 to 3 percent comfort zone, strongly suggesting that further increases in interest rates might be needed to restrain price pressures and cool the red-hot economy
Extreme volatility will likely rip the stock market again in the coming week, while investors consider some fresh economic data and a last blast of earnings news. Tuesday marks one month to the day before the Fed's next rate meeting.
Soaring global oil costs helped drive U.S. import prices up at the steepest rate in nearly 1-1/2 years during October, according to a Labor Department report on Friday that was likely to heighten concern about energy-driven inflation.
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Ben Bernanke’s latest assessment of the economy shows the Fed’s job of balancing inflation with a slowing economy is more difficult than ever, leaving policymakers undecided on further rate cuts.
Fed Chairman Ben Bernanke said the U.S. economy faces risks in both growth and inflation, suggesting the Fed will holding off deciding on further rate cuts.
Bank of England and European Central Bank both left rates unchanged which helped spark a modest rally in Europe and here. Mr. Trichet, head of the ECB, talked about inflation concerns but his inaction made him appear rather dovish.
The European Central Bank left rates unchanged as expected on Thursday, with analysts saying the doves in the governing council had the upper hand. The Bank of England also left the rates on hold, with analysts expecting it to ease monetary policy early next year.
South Korea's central bank held its main interest rate steady at 5.0 percent for the third month in a row on Thursday, as widely expected, amid turbulent global markets and despite growing inflationary pressures.
Unemployment in Australia unexpectedly ticked up from 33-year lows in October but the number of full-time jobs increased by the biggest amount in 16 years, underlining the continued strength of the economy.
The dollar dropped to record lows versus the euro Wednesday after comments by a Chinese official stoked fears the central bank of the world's fourth largest economy would reduce its holdings of U.S. assets.
The risks posed by the credit market turmoil and inflation were about balanced, and there was some improvement in inflation, Federal Reserve Bank of Richmond President Jeffrey Lacker said on Wednesday.
The shrinking U.S. dollar, record oil prices and some major earnings reports will dominate Wednesday trading. Oil edged past $98 moving deeper into record territory in overnight trade. Traders are betting crude has the legs to run through $100 in the next couple of days.
European Central Bank policymakers have been relaxed about the euro's steep rise against the dollar -- in public at least -- but its move towards $1.50 is raising the prospect that it might intervene.
The European Central Bank should take into account a range of factors such as the strong euro and high oil prices when setting monetary policy, France's Secretary of State for Europe Jean-Pierre Jouyet said on Wednesday.
Australia's central bank raised interest rates to an 11-year high on Wednesday as it battled to contain inflation, a decision charged with unusual political implications just two weeks before a national election.
It's been less than a week since the Federal Reserve hinted it was done lowering interest rates. Yet Wall Street is already clamoring for yet another cut.
James Owens, the chief executive of Dow component Caterpillar, sees a soft landing in store for the U.S. economy.
The dollar fell to all-time lows against the euro and a basket of major currencies Tuesday as investors feared the fallout from the credit turmoil was far from over and the Fed will have to cut interest rates some more.
Fed Chairman Ben Bernanke may not have many soothing words for Wall Street when he testifies before Congress on Thursday.