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South Korea's central bank left its key interest rate at a record low for the ninth straight month Thursday, pledging to maintain low borrowing rates to help extend a recovery in Asia's fourth-largest economy.
South Korea's central bank left its key interest rate at a record low Friday for an eighth straight month, largely dousing speculation a hike may come before the end of the year and sending stocks higher.
Australia's central bank unexpectedly raised interest rates by a quarter point Tuesday, becoming the first major economy to increase the cost of borrowing amid signs its recovery from the global slump is gaining momentum.
South Korea's central bank left its key interest rate unchanged at a record low 2 percent Thursday for a seventh straight month as the country emerges from its worst slowdown in over a decade.
Canada's central bank kept its key interest rate steady on Tuesday as expected and said the country's economy is beginning to recover from recession.
Denmark's central bank on Thursday lowered its key interest rate by 0.75 percentage points to 3 percent.
South Korea's central bank cut its key interest rate Friday for the fifth time in just three months to help shore up the country's sagging economy.
The Central Bank of Iraq says it will reduce its interest rate by 1 percentage point to 14 percent, starting next year.
The Swiss National Bank cut its key interest rate in half on Thursday to 0.5 percent, its fourth reduction since October.
South Korea's central bank carried out its biggest interest rate cut ever Thursday, slashing borrowing costs by a full percentage point to a record low in a bid to stave off recession.
Denmark's central bank on Thursday lowered its key interest rate by 0.75 percentage point to 4.25 percent, mirroring a cut by the European Central Bank.
South Korea's central bank cut its key interest rate Friday for the third time in less than a month, stepping up efforts to stave off a sharp slowdown in an economy pummeled by the global financial crisis. Stocks rallied.
Denmark's central bank has lowered its key interest rate by half a percentage point to 5.0 percent, mirroring a rate cut by the European Central Bank.
South Korea's central bank slashed its key interest rate Monday by three-quarters of a percentage point — its biggest cut ever — to prevent Asia's fourth-largest economy from lurching into recession.
Mexico's central bank is leaving its benchmark interest rate unchanged at 8.25 percent in a continued bid fight both inflation and slowing growth.
South Korea's central bank said Thursday it raised its key interest rate by 0.25 percentage point to cope with spiraling inflation.
The Bank of Korea set its new benchmark interest rate at 5 percent Friday amid data showing that risks from rising inflation have begun to outweigh those from a slowing economy.
A look at what some Federal Reserve officials are saying about economic and financial conditions:
Deficit Projected To Soar With New Programs by Lori MontgomeryDeficit Projected To Soar With New Programs 10-Year Estimate of $9 Trillion Fuels Critics of President's Agenda
Fed to Hike Rates to 7% by Mid-2011: StrategistI do not see how the fed could raise rates that dramatically over such a short period of time. I certainly see them raising the rate in order to promote a gradual recovery rather than a quick one. Only a year ago the rate was 2.00%, now it's 0.25%.
Bail-Out Bonuses at Banks that Got the Most $ from U.s. - $1 Million a Head...Hundreds and Hundreds of HeadsThousands of top traders and bankers on Wall Street were awarded huge bonuses and pay packages last year, even as their employers were battered by the financial crisis. More Articles
How to avoid debt problems before they startUnderstanding basic debt concepts can prevent you from drowning in it over your lifetime. TODAY's personal finance editor Jean Chatzky offers simple tips to stop your finances from spiraling out of control - and how to deal if they do.
Bernanke Freaks Out About Obama's Spending and Debt PlansBen Bernanke's language yesterday on the future of the economy and the risks of our ballooning debt was startlingly frank coming from a Fed Chairman.
U.S. Program to Help Banks Sell Bad Assets Is Halted...some analysts said the banks' reluctance to clean up their balance sheets meant they were merely postponing their day of reckoning. Indeed, some analysts said government policies had made it easier for banks to gloss over their bad loans. More Articles
Obama Pressures Credit Card Issuers on Rates - NYTimes.comIn response to the increasingly aggressive and usurious practices of credit card companies President Obama has thrown his support behind efforts to protect consumers from unfair treatment.
U.S. to Detail Plan to Rein In Finance WorldThe Treasury secretary, Timothy F. Geithner, will outline the broad revamping of the regulatory system, which goes further than expected, in a hearing on Thursday.
US Details Toxic Asset ProgrammeThe US has announced details of a plan to buy up to $1 trillion (£686bn) worth of toxic assets to help repair banks' balance sheets. More Articles
Brown Looks to US: Seize the Moment to Tackle World CrisisGordon Brown yesterday invoked the spirit of American optimism as he challenged Congress to let Barack Obama lead the world away from self-defeating protectionism and the perils of irreversible climate change.
Do You Qualify for a New Mortgage?The Web site financialstability.gov has a "self-assessment" tool to help homeowners determine whether they qualify for either of the programs, as well as Q&As on how the programs work. More Articles
Facing foreclosure? Don't be caught unpreparedYou know this country is in the midst of a housing crisis, but do you know what to do if you find yourself in a trouble? TODAY's Jean Chatzky offers tips for homeowners facing housing problems.
Britain Cuts Key Rate to Lowest Point Since 1694The British central bank cut the rate by half a percentage point to its lowest level since the bank's creation in 1694.
Senate Advances Tax Break for HomebuyersThe Senate on Wednesday voted to expand the economic stimulus package with a tax credit for homebuyers of up to $15,000, a provision championed by Republicans as addressing a root cause of the recession. More Articles
American Express: Still Partying Like Rock Stars While Crisis UnfoldsOh the tangled webs we weave as we practice to deceive. Slashing charities and small business limits, American Express is showing how much they truly care about their customers. Ignore them.
Economic Troubles Bring Many to the Brink"Well, it's a big deal when you tell me that you don't want to live if you don't find something," Gore stresses to her caller. "Do you realize what you're telling me? I am not trying to preach, but that's kind of frightening."
Lynched at MerrillEven at the end, after presiding over the worst performance in the 94-year history of Merrill Lynch, and as Bank of America pinned the blame for a bonus payment scandal squarely on his back, John Thain did not seem to know what was about to befall him. More Articles
Credit fees add to pinch on retailersI decided before the economy melted to a pile of plastic goo to give cash a try. Surprisingly, some retailers gave me a small percentage discount for doing so.
U.S. foreclosure Filings in Rose 81% in '08U.S. foreclosure filings in 2008 rose 81% from 2007 and tripled from 2006...A total of nearly 3.16 million foreclosure filings. More Articles
Fed Readies for Balance Sheet Tool as Rate Nears ZeroThe Federal Reserve may today reduce its main interest rate to the lowest level on record and prepare for one of the boldest experiments in its 94-year history: using its balance sheet as the key tool for monetary policy. More Articles
Treasury Bills Trade at Negative RatesTreasuries rose, pushing rates on the three-month bill negative for the first time, as investors gravitate toward the safety of U.S. government debt amid the worst financial crisis since the Great Depression.
The media played a cruel joke on the housing industry last week with an unsubstantiated rumor that the 30 year fixed rates would drop and stay at 4.5%. This piece of juicy gossip with no details has evaporated into never, never happened land.
Fed: Zero-percent interest rate? Zero percent interest rates! It sounds like free money, or maybe a promotional deal from General Motors to get people to buy Hummers. Are zero rates coming to the Federal Reserve?
Fed Rate Cut is Not Good for Everyone: Bad for Savers, Elderly AmericansNot everyone is happy about the Fed's half-point rate cut on Wednesday. Anyone who relies on interest income from bank certificates of deposits or other savings tools is about to see that income slashed. With each step down the Fed takes in interest rates, savers get pinched.
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