BEIJING, Aug 2- Downward pressure on China's economy will persist in the second half of the year as growth in infrastructure spending and exports is unlikely to pick up, a senior central bank official was quoted as saying. Chinese companies are not optimistic about business prospects according to the central bank's second-quarter survey, Sheng Songcheng, the...» Read More
A global credit crunch knocked down Eurozone private sector growth to a two-year low in September as new orders plunged, a survey showed on Friday, making any further interest rate hike this year unlikely.
Federal Chairman Ben Bernanke told Congress the credit crisis has created "significant market stress" and offered fresh assurances that regulators would take steps to curb fallout from the mortgage mess.
The following is the full transcript of the speech made by Federal Reserve Chairman Ben Bernanke on Sept. 20, 2007, before the U.S. House of Representatives' Committee on Financial Services, on the subject of subprime mortgage lending and mitigating foreclosures.
Chief executives such as Ara Hovnanian were the among the loudest voices calling for the Federal Reserve to cut interest rates. Now, after the Fed's surprisingly sharp reduction in rates on Tuesday, CNBC asked several CEOs if they're happy.
The Fed’s rate cuts will do little if anything to help the mortgage and housing industries in the short-term--and the central bank is just at the beginning of a long, hard fight to head off a recession, experts say.
U.S. consumer prices unexpectedly dipped 0.1 percent last month and new home construction hit a 12-year low, data Wednesday showed, underlining concerns about the country's economic outlook.
Applications for U.S. home mortgages climbed for a third straight week as more borrowers sought to refinance loans on which payments may be about to rise, an industry group said Wednesday.
All nine members of the Bank of England's Monetary Policy Committee voted to keep interest rates at 5.75% earlier this month, judging it was too soon to tell how financial market troubles would play out.
The Federal Reserve acted Tuesday, cutting the fed funds rate and the discount rate by a half-percentage point each. Oil jumped to a new high as the news was announced and immediately afterwards, stocks rallied in the strongest reaction to a Fed move since 2001. With the Fed funds rate now at 4.75 percent and the discount rate at 5.25 percent, where will the market go? CNBC's experts weighed in.
The Fed cut two key interest rates by half a point, seeking to prevent a steep housing slump and turbulent financial markets from triggering a recession.
The statement released by the FOMC after lowering rates.
Warren Buffett tells CNBC that when it comes to stock investing, he "doesn't care" if the Federal Reserve lowers interest rates. Read a transcript of his comments to Becky Quick about the Fed, his investing strategies, and the price of oil.
European stocks rallied Tuesday, closing higher, with investors cheered by the prospect of a U.S. Federal Reserve rate cut and encouraged by the British government's intervention to reassure Northern Rock bank depositors.
Federal Reserve policymakers are meeting today in one of the most closely watched central bank conferences in years. The Fed is slated to release its rate-cut decision at 2:15pm ET. CNBC asked the experts what they expect the Fed to do -- and what impact it will have on the economy and markets.
The Labor Department said it was the largest fall in producer prices since a 1.5 percent dip in October 2006.
Consumer prices in Britain fell slightly in August, the government said Tuesday.
Fed policymakers meet Tuesday in one of the most closely watched central bank meetings in years. CNBC asked the experts what they expect the Fed to do and what impact it will have on the economy and markets.
Alan Greenspan keeps making news, even after leaving the Federal Reserve chairman’s post. Last week, he released his memoirs, taking the Bush Administration to task; and he told CNBC the housing bubble was "unavoidable." Here is a sampling of our broadcast coverage, including an exclusive Greenspan interview with senior economics reporter Steve Liesman.
Former Federal Reserve Chairman Alan Greenspan also says the chances of a recession have risen from January, when he said there was about a 33% chance.