Central banking

August 07, 2019 - 6:09 am
THE HAGUE, Netherlands (AP) — The Netherlands' central bank has ordered ABN AMRO to check all of its retail customers for possible financial crimes as part of a government crackdown. ABN AMRO revealed the order Wednesday alongside second-quarter results that showed its net profit edged up 1% from...
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Reserve Bank of India (RBI) Governor Shaktikanta Das speaks during a press conference in Mumbai, India, Wednesday, Aug. 7, 2019. India's central bank on Wednesday cut its key interest rate for the fourth consecutive time, reducing the repo rate by 0.35% to 5.40% to shore up the economy, with consumer spending and corporate investment faltering and the production of capital goods and consumer durables decelerating. (AP Photo/Rajanish Kakade)
August 07, 2019 - 5:16 am
NEW DELHI (AP) — India's central bank on Wednesday cut its key interest rate for the fourth consecutive time, reducing the repo rate by 0.35% to 5.40% to shore up the economy, with consumer spending and corporate investment faltering and the production of capital goods and consumer durables...
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August 06, 2019 - 10:50 pm
WELLINGTON, New Zealand (AP) — New Zealand's central bank has cut its benchmark interest rate to an all-time low of 1% as it forecasts tougher economic conditions ahead. The cut of half a percentage point by the Reserve Bank was a surprise with most economists forecasting a rate cut of 0.25%. The...
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In this July 31, 2019, photo, Federal Reserve Chairman Jerome Powell speaks during a news conference following a two-day Federal Open Market Committee meeting in Washington. In a strong rebuke to President Donald Trump, the four living former leaders of the Federal Reserve say that the head of the nation's central bank should be able to make interest-rate decisions free of political pressure and the threat of being removed or demoted. Current Fed Chairman Powell has come under heavy attacks from Trump, who has repeatedly attacked Powell's decisions and has reportedly explored the possibility of either firing Powell or demoting him as Fed chairman. (AP Photo/Manuel Balce Ceneta)
August 06, 2019 - 7:15 pm
WASHINGTON (AP) — In a strong rebuke to President Donald Trump, the four living former leaders of the Federal Reserve say that the head of the nation's central bank should be able to make interest-rate decisions free of political pressure and the threat of being removed or demoted. The former...
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A bank employee counts U.S. dollar banknotes next to stack of 100 Chinese yuan notes at a bank outlet in Hai'an in eastern China's Jiangsu province, Tuesday, Aug. 6, 2019. China's yuan fell further Tuesday against the U.S. dollar, fueling fears about increasing global damage from Beijing's trade war with President Donald Trump. (Chinatopix via AP)
August 06, 2019 - 11:12 am
BEIJING (AP) — China stabilized its currency Tuesday, suggesting it might hold off from aggressively letting the yuan weaken as a way to respond to U.S. tariffs on Chinese goods. The yuan declined to 7.0562 to the dollar before strengthening back to 7.0297 in the afternoon. That came a day after...
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FILE - In this June 10, 2019, file photo, a man walks past a money exchange shop decorated with different banknotes at Central, a business district of Hong Kong. China's yuan fell below the politically sensitive level of seven to the U.S. dollar on Monday, Aug. 5, 2019, possibly adding to trade tension with Washington. The currency weakened to 7.0177 in early trading following U.S. President Donald Trump's threat last week of tariff hikes on additional Chinese imports in a fight over Beijing's trade surplus and technology policies. (AP Photo/Kin Cheung, File)
August 05, 2019 - 8:00 pm
WASHINGTON (AP) — China decided Monday to meet President Donald Trump's latest tariff threat with defiance, letting its currency drop to an 11-year low and halting purchases of U.S. farm products. The moves, which came four days after Trump threatened more taxes on Chinese imports, knocked stock...
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FILE - In this June 10, 2019, file photo, a man walks past a money exchange shop decorated with different banknotes at Central, a business district of Hong Kong. The U.S. Treasury Department labeled China a currency manipulator Monday, Aug. 5, after Beijing pushed down the value of its yuan in a dramatic escalation of the trade conflict between the world's two biggest economies. (AP Photo/Kin Cheung, File)
August 05, 2019 - 7:42 pm
WASHINGTON (AP) — The U.S. Treasury Department labeled China a currency manipulator Monday after Beijing pushed down the value of its yuan in a dramatic escalation of the trade conflict between the world's two biggest economies. The decision, which came hours after President Donald Trump accused...
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August 05, 2019 - 2:34 pm
NEW YORK (AP) — The latest on developments in financial markets (all times local): 2:30 p.m. Stocks are plunging on Wall Street after China let its currency sink to the lowest level in more than a decade, escalating its trade war with the U.S. The Dow Jones Industrial Average sank 800 points Monday...
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FILE - In this July 20, 2018, file photo, a deliveryman for American-based pizza chain Domino's prepares to make a delivery near a mural displaying Chinese yuan and other world currency symbols on the outside of a bank in Beijing. China's yuan fell Friday, Aug. 2, 2019, to its lowest level of the year against the dollar following U.S. President Donald Trump's threat of new tariffs on Chinese goods, coming close to breaking the politically sensitive level of seven to the U.S. currency. (AP Photo/Mark Schiefelbein, File)
August 02, 2019 - 3:40 am
BEIJING (AP) — China's yuan fell Friday to its lowest level this year against the dollar following President Donald Trump's threat of new tariffs on Chinese goods, coming close to breaking the politically sensitive level of seven to the U.S. currency. The yuan tumbled to 6.9520 to the dollar, its...
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August 01, 2019 - 4:13 pm
NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks took a nosedive and bond prices spiked after President Donald Trump said the U.S. would raise tariffs on more Chinese goods, increasing the stakes in an ongoing trade battle. The market had been on...
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