This could have implications for other central banks around the world contemplating further easing, notably the European Central Bank and the Bank of England. The latter meets in the coming week and is widely expected to take steps to ease the economic pain of Britain's vote to leave the European Union. *BoE policy decision Aug. 4, Australia Aug. 1, BOJ minutes Aug. 3. » Read More
Orders for big-ticket manufactured goods fell for a second straight month in February, a worse-than-expected performance that provided more evidence of a slumping economy.
Top central bankers warned on Wednesday there was no end in sight yet to the global credit crunch as German banking giant Deutsche said the crisis threatened its profit target for this year.
Tighter lending conditions have made the Bank of England more inclined to cut interest rates as the global credit crunch enters a new and difficult phase, Mervyn King, the central bank's governor, said on Wednesday.
The European Commission expressed concern on Wednesday about the euro's rise, saying it added to the strengthening headwinds facing euro zone growth, but stuck to its 1.8 percent forecast for 2008 economic growth.
Japan's exports rose a little more than expected in February from a year earlier as solid shipments of Japanese goods to Asia and Europe made up for a fall in exports to the United States.
The dollar retreated broadly Tuesday, posting its steepest loss against the euro in two weeks, hurt by concerns about the health of the U.S. economy and the global financial sector.
The dollar rallied across the board Monday on better-than-expected U.S. existing home sales data and J.P. Morgan's higher offer for Bear Stearns shares, which boosted Wall Street stocks.
British Prime Minister Gordon Brown and French President Nicolas Sarkozy will urge banks this week to make "full and immediate disclosure" of write-offs due to the global credit crisis, British officials said on Monday.
Even the most seasoned commodity traders are looking back on this month's market action as nothing short of dramatic. Continued turmoil in the equity markets and falling confidence in the U.S. dollar sent investors scurrying into the relative safe haven of the commodities markets like droves of mad March hares.
The U.S. dollar inched lower against the euro on Friday but held on to much of the gains it made the previous day when investors sold commodities including oil and gold and repatriated cash back into the dollar.
The dollar made its biggest gain since mid-December against the euro Thursday as investors sold oil, gold and other commodities and repatriated their cash back into the beleaguered U.S. currency.
The dollar briefly reversed losses against the euro on Wednesday in volatile trading, drawing support from losses in gold futures.
Fed Chairman Ben Bernanke’s stock is at a 52-week high on Wall Street --- with the exception perhaps of Bear Stearns, which appears to be selling him short.
A day after the Federal Reserve cut interest rates another three-quarters of a point, CEOs joined Squawk Box to share their outlook on the economy and markets.
Two of the nine Bank of England policymakers opposed this month's decision to keep interest rates at 5.25 percent, preferring an immediate quarter-point cut to shore up the economy in the face of a global downturn.
Today's statement is another in a series of very significant communications from the Fed. At the extreme, it could mean the Fed is done cutting rates, barring any more massive credit-market upheavals.
The dollar posted gains against the yen and the euro on Tuesday after the Federal Reserve slashed benchmark interest rates by 75 basis points.
The Fed commentary, on top of the positive Lehman and Goldman numbers, are helping move stocks to the highs of the day. The Fed has: 1) Reduced the growth forecast, and increased the inflation forecast. 2) Talked less on credit problems.
The size of the Fed’s expected rate cut today may help stimulate a sluggish economy. But it is unlikely to unfreeze the credit markets, especially the mortgage one.
The Federal Reserve slashed a key U.S. interest rate by three-quarters of a point, to 2.25%, but Wall Street didn't seem to care that the cut was smaller than many had expected.