LIMA, Nov 25- Inflation in Peru during November will likely be higher than what the central bank would like due to an increase in some food prices, bank president Julio Velarde said on Wednesday, a sign an interest rate hike may be in the works. Velarde said that Peru's economy is growing below its potential of 4.5 percent and underscored that the sol currency has...» Read More
European stocks ended lower for the third straight session on Thursday but well off the day's lows as strong gains on Wall Street sparked a late recovery, eclipsing fears of more asset writedowns in the banking sector.
The dollar fell to a record low against the euro Thursday, but pared losses as European Central Bank President Jean-Claude Trichet did not drastically change his growth and inflation views for the euro zone.
Federal Reserve Chairman Ben Bernanke said the U.S. economy could face a mild recession but that growth should pick up as the impact of aggressive interest rates cuts are felt.
The U.S. economy has "turned down sharply" and is at risk of weakening further because of the slump in housing, Treasury Secretary Henry Paulson said.
This is a timeline of the European Central Bank's rate decisions from 2007 to date.
The US trade deficit widened unexpectedly in February as imports of consumer and other goods set a record and grew faster than exports, which hit a record for the 12th consecutive month, a government report showed on Thursday.
The Federal Reserve will stop cutting interest rates once it is assured that the economic contraction is limited to the financial sector, PIMCO CEO Mohamed El-Arian told CNBC.
The dollar extended its fall against the yen Wednesday, dropping to session lows as U.S. stocks deepened losses after a surge in oil prices.
The Federal Reserve is mulling further steps to address liquidity problems in financial markets should measures taken to date fail to gain traction, a Fed official confirmed Wednesday.
The Bank of Japan left its interest rate target unchanged at 0.5 percent on Wednesday, as expected, in a unanimous vote.
Former Federal Chairman Alan Greenspan told CNBC he had little to do with the housing bubble or credit crisis despite criticism the Fed kept interest rates too low under his watch.
Former Federal Reserve Chairman Alan Greenspan has defended himself from charges that easy U.S. monetary policy created the current credit crisis by inflating a housing bubble, and instead blamed professional investors.
The U.S. dollar edged lower versus the euro on Tuesday as minutes of the last Federal Reserve meeting showed policy makers felt that a prolonged and severe economic downturn can't be ruled out.
Worries about a deep recession--not a shallow one--drove Fed policymakers to slash interest rates again last month, according to minutes of their meeting.
The following is the text of the minutes from the Federal Open Market Committee's meeting of March 18, issued on Tuesday:
A gauge of small business optimism in the United States sunk in March to a 22-year low, as small business owners clamped down on plans to create new jobs and expand business operations, a survey released Tuesday showed.
Spiraling food costs. Everyone is talking about it in Asia – over morning coffee, on the trains, over family dinners, even during the elevator ride up to work. In particular, the surging price of rice.
The U.S. dollar held steady against the euro Monday in European trading at the start of a week that will see the latest interest rate decision from the European Central Bank.
Recessions are part of capitalism. They happen every so often. We’ve had two in the last super-prosperous 25 years. And it looks like we’re entering a third one after Friday’s jobs-loss report.
Martin Feldstein, who heads the group that is considered the arbiter of U.S. recessions, told CNBC that he believes the U.S. has been sliding into a recession.