Central banking

In this Wednesday, April 29, 2020 photo a man walks in front of the European Central Bank in Frankfurt, Germany. The European economy shrank by 3.8% in the first quarter, the most since records began, as business activity was frozen by shutdowns aimed at preventing the spread of the coronavirus. It was the biggest drop since statistics started in 1995 and bigger than the plunge in the midst of the global financial crisis in the first quarter of 2009 after the bankruptcy of U.S. investment bank Lehman Brothers. (AP Photo/Michael Probst)
April 30, 2020 - 8:29 am
FRANKFURT, Germany (AP) — The European Central Bank is stepping up its measures to cushion the economy against a record downturn caused by the lockdowns on business due to the virus outbreak, offering large helpings of cheap credit to banks in hopes it will be passed on to struggling businesses...
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FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. The Federal Reserve said Friday, April 24, it had $85.8 billion in loans outstanding last week in three of the programs it rolled out last month to protect the economy during the coronavirus pandemic.   (AP Photo/Jacquelyn Martin, File)
April 29, 2020 - 6:05 pm
WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it will keep its key short-term interest rate near zero for the foreseeable future as part of its extraordinary efforts to bolster an economy that is sinking into its worst crisis since the 1930s. Chairman Jerome Powell noted the gravity...
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A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, April 29, 2020. Asian stock markets gained Wednesday after France and Spain joined governments that plan to ease anti-virus controls and allow businesses to reopen. (AP Photo/Ahn Young-joon)
April 29, 2020 - 1:41 pm
Stocks charged higher around the world Wednesday following an encouraging report on a possible treatment for COVID-19. The optimism helped the S&P 500 vault 2.8% higher in afternoon trading, and it extended a rally that’s brought the U.S. stock market to the brink of its best month in 45 years...
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A currency trader stretches at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, April 27, 2020. Asian stock markets have gained after Japan's central bank promised to buy more government bonds to support financial markets as investors look to central bankers to shore up the struggling global economy. (AP Photo/Ahn Young-joon)
April 27, 2020 - 4:57 pm
With governments making moves toward letting businesses reopen, stocks rallied worldwide on Monday to kick off a busy week for markets. From Rome, Georgia, to Rome, Italy, companies are watching as politicians detail plans to ease up on restrictions that were meant to slow the coronavirus pandemic...
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FILE - In this March 16, 2020, filer photo, Bank of Japan Gov. Haruhiko Kuroda speaks during a news conference in Tokyo. Japan’s central bank on Monday, April 27, 2020, announced it is making it easier for cash-strapped companies to get funding in response to the growing economic damage from the coronavirus pandemic. (AP Photo/Eugene Hoshiko, File)
April 27, 2020 - 12:19 am
BEIJING (AP) — Asian stock markets gained Monday after Japan's central bank promised more asset purchases to shore up financial markets as investors look to central bankers to support the struggling global economy. Tokyo's benchmark surged 2.4% and Shanghai, Hong Kong and Sydney also gained...
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A nearly deserted street at the Village Pointe shopping mall is seen in Omaha, Neb., Wednesday, April 15, 2020. U.S. retail sales plummeted 8.7% in March as the coronavirus outbreak forced an almost complete lockdown of commerce. (AP Photo/Nati Harnik)
April 15, 2020 - 3:06 pm
WASHINGTON (AP) — The Federal Reserve is noting what most Americans are already acutely aware of: Economic activity contracted sharply and abruptly cross all regions of the country in recent weeks as the country locked down to combat the coronavirus pandemic. The Fed said Wednesday that the hardest...
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Patrolman Elliot Landrau keeps watch at the West Side Market, Friday, April 10, 2020, in Cleveland. There were fewer shoppers this year before the Easter holiday than in previous years due to the coronavirus. (AP Photo/Tony Dejak)
April 10, 2020 - 4:23 pm
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to the global economy, the work place and the spread of the virus. ________________________ CONSUMER DURESS: The consumer drives about 70% of all economic...
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In this photo taken from video provided by the New York Stock Exchange, Chief Security Officer Kevin Fitzgibbons rings the opening bell at the NYSE, while recognizing Randy Timmons in Albany, Ga., and thousands of employees of the Proctor & Gamble Company, Thursday, April 9, 2020. (New York Stock Exchange via AP)
April 09, 2020 - 4:08 pm
NEW YORK (AP) — The S&P 500 index closed out its best week since 1974 with another gain Thursday after the Federal Reserve launched its latest unprecedented effort to support the economy through the coronavirus outbreak. The central bank’s announcement of programs to provide up to $2.3 trillion...
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FILE - In this March 25, 2020 file photo, a closed sign hangs in the window of a shop in Portsmouth, N.H., due to caronavirus concerns. The Federal Reserve is taking additional steps to provide up to $2.3 trillion in loans to suport American households and businesses as well as local governments as they deal with the coronavirus. The Fed said Thursday, April 9, among the actions it is taking is the activation of a Main Street Lending Program that was authorized by the $2.3 trillion economic relief bill pass by Congress last month. (AP Photo/Charles Krupa, File)
April 09, 2020 - 3:05 pm
WASHINGTON (AP) — The Federal Reserve unleashed a new series of moves Thursday to try to make loans available to states, localities and companies that have been hard hit by the coronavirus. In doing so, the Fed will pump an additional $2.3 trillion into the U.S. economy. The central bank, in part,...
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A nearly full moon sets over the buildings of the banking district and the European Central Bank, right, in Frankfurt, Germany, early Tuesday, April 7, 2020. Due to the coronavirus the economy worldwide expects heavy losses. (AP Photo/Michael Probst)
April 07, 2020 - 1:48 pm
FRANKFURT, Germany (AP) — The European Central Bank took more emergency action Tuesday to keep credit flowing to companies in the 19 countries that use the euro by easing its rules for lending to banks that serve those businesses. The action comes amid widespread efforts by central banks such as...
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