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ECB rings in new year with QE fireworks

Frankfurt - The European Central Bank began 2015 with a bang Thursday, launching a massive trillion-euro bond purchase programme to ward off deflation and end stagnation in the eurozone economy.

'Like Christmas': Rush to cash in on soaring Swiss franc

Geneva - "It's like Christmas all over again!" enthused Vanessa, as she joined a swelling queue outside a currency exchange office in downtown Geneva Thursday.

ECB holds key rates steady amid anti-austerity demos

Naples - The European Central Bank held its record-low interest rates unchanged at its regular monthly policy meeting on Thursday, amid fierce street clashes between anti-austerity demonstrators and police outside the Italian venue.

ECB fires off volley of anti-deflation shots

Frankfurt - The European Central Bank rolled out Thursday an unprecedented package of measures, including negative interest rates, in its fight to head off the spectre of deflation in the euro area.

ECB to hold fire on rates but could move soon

Brussels - The European Central Bank will keep its gunpowder dry at its monthly meeting Thursday, but could pave the way to act soon if deflationary dangers persist, analysts said.

Greece's short-term debt rates drop after bond issue

Athens - Greece's short-term borrowing costs tumbled on Tuesday, days after the crisis-hit country returned to medium-term international bond markets for the first time for four years. Athens paid 2.75 percent interest on 1.625 billion euros ($2.

Ukraine currency recovers after 46% interest rate hike

Kiev - Ukraine's currency steadied on Tuesday from heavy falls after the crisis-hit country's central bank unexpectedly raised its key interest rate by nearly 50 percent to boost consumer confidence and stop spiralling inflation.

ECB's Draghi: the strong euro could require policy action

Washington - European Central Bank chief Mario Draghi said Saturday that the bank may need to take action to stem the rising euro."The strengthening of the exchange rate would require monetary stimulus" as long as interest rates are already extremely low, he said.

Steady stimulus taper 'likely': Fed minutes

Washington - Federal Reserve policy makers expect to continue the steady cutback to its stimulus program, the minutes to their March 18-19 meeting showed Wednesday.

Bank of England set to hold record-low interest rates

London - The Bank of England is forecast Thursday to freeze interest rates at a record-low 0.50 percent, amid caution over the strength of Britain's economic recovery, analysts said.

Tight budget less crucial with interest rates low: IMF

Washington - Austerity budgets and public spending cuts are less critical to economic health as interest rates in the major advanced economies remain historically low, the International Monetary Fund said Thursday.

ECB holds key rate steady at 0.25% 

Frankfurt - The European Central Bank held its key interest rates steady as widely expected on Thursday. The ECB left its central "refi" or refinancing rate unchanged at 0.25 percent at its monthly policy meeting, it said in a statement.

Brazil hikes key rate to 11 percent

Braz - Brazil raised its key interest rate by 25 basis points to 11 percent, as Latin America's largest economy scrambled to contain inflation.

India keeps rates on hold ahead of election

Mumbai - India's central bank kept key interest rates steady on Tuesday in a widely anticipated move less than a week before the start of national elections.

Hungary cuts base rate to new record low

Budapest - Hungary's central bank cut its main interest rate to a record low 2.60 percent on Tuesday, in an effort to boost the economy before elections on April 6.

Yellen confounds in first policy announcement

Washington - Did Janet Yellen bungle her first press conference?

Swiss central bank leaves key rates unchanged

Z - Switzerland's central bank on Thursday kept its key interest rate unchanged and restated its longstanding pledge to prevent the Swiss franc from gaining too much value.The Swiss National Bank (SNB) held its target range for the franc's three-month Lond...

New Fed Chair Yellen keeps policy on track

Washington - New Federal Reserve chief Janet Yellen kept the central bank firmly on the path set by predecessor Ben Bernanke Wednesday, shrugging off recent economic weakness as largely weather-caused.But she also took a crucial step to reshape how the Fed has sign...

Fed lowers US growth projections for 2014, 2015

Washington - The Federal Reserve cut back its US economic growth forecasts for this year and next on Wednesday, but said the unemployment rate would fall faster than it forecast in December.The Fed said the economy was expected to grow 2.8-3.0 percent in 2014 and 3...

Yellen poised to place stamp on US Fed policy

Washington - Federal Reserve chief Janet Yellen is poised Wednesday to place her stamp on US monetary policy, challenged to balance a recently sluggish economy against the drawdown of the Fed's stimulus.Yellen, who took the reins of the US central bank on February ...

Yellen pressured to clarify Fed rate signals

Washington - Janet Yellen opens her first monetary policy meeting as Federal Reserve chair Tuesday amid pressure to clear up questions about the Fed's plans for hiking its base interest rate.The Federal Open Market Committee is not expected to move off its current ...

U.S. regulator sues major banks over Libor manipulation

New York - The U.S. Federal Deposit Insurance Corporation sued HSBC, Citigroup, Deutsche Bank and 12 other global banking heavyweights for manipulating the Libor benchmark interest rate.The manipulation caused "substantial losses" to 38 US banks that were shut down.

U.S. FDIC sues major banks over Libor manipulation

New York - The US Federal Deposit Insurance Corporation sued HSBC, Citigroup, Deutsche Bank and 12 other global banking heavyweights on Friday for manipulation of the Libor benchmark interest rate.The regulator said the manipulation caused "substantial losses" to...

ECB 'not complacent about low inflation': board member

Frankfurt - The European Central Bank is not being complacent about low eurozone inflation, even though it did not cut interest rates this month, one of its a board members said on Tuesday."We have room left to act.

ECB holds key rate steady at 0.25%

Frankfurt - The European Central Bank held its key interest rates steady as largely expected on Thursday.

Bank of England holds interest rate at 0.50%

London - The Bank of England on Thursday voted to keep its main interest rate at 0.50 percent, five years after deciding to cut borrowing costs to the current record-low level.Policymakers agreed by majority also to maintain the level of central bank stimulus p...

Australian central bank keeps rates on hold

Sydney - Australia's central bank on Tuesday kept interest rates at a record low 2.5 percent for a sixth straight month despite continued weakness in the economy, and suggested it was likely to hold fire for some time."In the board's judgement, monetary policy ...

Some Fed officials sought early rate hike: FOMC minutes

Washington - Some Federal Reserve policy makers sought an early hike in its benchmark interest rate, minutes from their January meeting showed Wednesday.The minutes of the Federal Open Market Committee meeting of January 28-29 said "a few" members saw it appropriat...

Italian borrowing costs drop to eight-year low

Rome - Italy's borrowing costs dropped to an eight-year low on Monday, after rating agency's Moody's raised outlook and as the country awaited a new, reform-driven government.On Friday, Moody's raised the outlook for the Italian economy from negative to stabl...

Russia says ready to raise rates to shore up ruble

Moscow - Russia's Central Bank signalled on Friday it could tighten policies in response to a plunge of the ruble outpacing other emerging currencies.The Central Bank met market expectation by leaving its key interest rate unchanged at 5.50 percent on Friday, b...
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