Mnuchin told CNBC that he's confident President Donald Trump and President Xi Jinping can make progress in stalled trade talks.World Economyread more
U.S. stock index futures jumped Wednesday morning after Treasury Secretary Steven Mnuchin told CNBC that the U.S. and China were almost there on a trade deal.US Marketsread more
President Donald Trump's administration hopes additional sanctions on Iran will force the country to negotiate.Politicsread more
Democrats want Mueller's testimony on his probe into Russian interference in the 2016 election and Trump's efforts to influence it.Politicsread more
Stocks should rally if the U.S. and China agree to new negotiations and a ceasefire in the trade war, but the economic impact of tariffs will continue.Market Insiderread more
Bitcoin surged as high as $12,919 in early morning trade Wednesday, to its highest level since January 2018.Technologyread more
AbbVie's deal to buy Allergan for about $63 billion is a "nice exit from a tough situation," RBC Capital Markets analyst Randall Stanicky says.Biotech and Pharmaceuticalsread more
Omada Health just raised $73 million at a valuation of around $600 million as it seeks to expand its digital health offerings.Technologyread more
Chevy is just rolling out an all-new version of its heavy-duty Silverado with the new High Country trim package that could become the first U.S. pickup to top $100,000, Chevy...Autosread more
The trade war between Beijing and Washington appears to have depressed Chinese property purchases in the United States. China's own actions may also be playing a role.Real Estateread more
Tesla CEO Elon Musk sent out another email to his employees, pushing them to aim for a record number of vehicle deliveries to end the second quarter of 2019.Technologyread more
VILNIUS, June 6 (Reuters) - The European Central Bank pushed back the timing of its first post-crisis interest rate hike on Thursday and said it would continue paying banks to lend to households and businesses as the outlook for global growth darkens further.
"The Governing Council now expects the key ECB interest rates to remain at their present levels at least through the first half of 2020, and in any case for as long as necessary," the ECB said in a statement.
The euro zone's central bank had previously said rates would stay at their current record-low levels until the end of this year, although investors have not been expecting any rate change for years to come.
In addition, under the ECB's third Targeted Longer-Term Refinancing Operation (TLTRO III) banks will be able to borrow from the central bank at 10 basis points above the average rate applied in the Main Refinancing Operations, currently set at zero, over the life of the loan.
And they could even get paid for lending if they pass on the cash.
"For banks whose eligible net lending exceeds a benchmark, the rate applied in TLTRO III will be lower and can be as low as the average interest rate on the deposit facility prevailing over the life of the operation plus 10 basis points," the ECB said.
The ECB has so far refrained from taking bolder steps, such as cutting rates or restarting its massive bond purchases, maintaining a recovery in inflation towards its target of just under 2 percent had simply been delayed, not derailed.
Attention will now shift to President Mario Draghi's news conference at 1230 GMT, in which he will unveil the ECB's new forecasts for growth and inflation in the euro zone.
With Wednesday's decision, the ECB's rate on bank overnight deposits, which is currently its primary interest rate tool, remained at -0.40%.
The main refinancing rate, which traditionally determined the cost of credit in the economy, remained unchanged at zero percent while the rate on the marginal lending facility -- the emergency overnight borrowing rate for banks -- stayed at 0.25%. (Reporting By Balazs Koranyi; Writing by Francesco Canepa in Frankfurt; Editing by Catherine Evans and Michelle Martin)