Tag: Federal Reserve

• Thursday, May 21st 2015 - 07:08 UTC

  Five world leading banks fined 5.7bn dollars for manipulating foreign exchange markets

  

  Five of the world's largest banks are to pay fines totaling $5.7bn for charges including manipulating the foreign exchange market. Four of the banks - JPMorgan, Barclays, Citigroup and RBS - have agreed to plead guilty to US criminal charges, while the fifth, UBS from Switzerland will plead guilty to rigging benchmark interest rates.

• Friday, May 8th 2015 - 08:13 UTC

  Fed warns stock market levels present 'potential dangers', but sees “no bubbles forming”

  

  The chair of the US Federal Reserve, Janet Yellen, has warned stock market levels present “potential dangers”, insisting current valuations, which have seen key US and UK indicators reach record levels, were “quite high”. However she did not see 'any bubbles forming'.

• Thursday, April 30th 2015 - 01:24 UTC

  Fed leaves interest rate at record low following two-day meeting

  

  The US Federal Reserve has kept its target interest rate at a record low at the end of a two-day policy meeting in Washington, DC. The US central bank has indicated it will raise rates soon, as long as the US economy continued to grow, but the timing of the increase remains uncertain.

• Friday, March 20th 2015 - 07:19 UTC

  Brazil's Real drops to lowest since April 2003; loss of 17% against the dollar this year

  

  No end to Brazil's economic woes: the Brazilian currency depreciated 2.7% on Thursday, at 3.30 Reales to the US dollar, its worst performance since April 2003. With this loss of ground the Real cut short a three day recovery, because since last Monday it had been climbing against the greenback.

• Thursday, March 19th 2015 - 07:55 UTC

  Fed no longer 'patient' about rates, but drops April and targets June

  

  The U.S. Federal Reserve says it can no longer remain “patient” about changing rates, an indication that interest rate hikes could begin this spring. But in a news conference, Fed chair Janet Yellen said the central bank has not settled on the timing of the rate hike.

• Friday, March 13th 2015 - 13:06 UTC

  Santander and Deutsche banks fail a US Fed Reserve “stress test”

  

  Spain's Santander and Deutsche Bank have failed a US “stress test” designed to assess whether lenders can withstand another financial crisis. The review, carried out by the Federal Reserve, gauges whether the biggest banks operating in the US have the “ability to lend to households and businesses even in times of stress”.

• Tuesday, March 3rd 2015 - 06:24 UTC

  Dollar on Monday at an eleven year peak against major currencies

  

  The dollar rose on Monday against major currencies touching an 11-year peak. The Euro, which has been in an extended slump, had been up by as much as a third of a percent against the dollar but surrendered gains and traded near unchanged at just under $1.12.

• Friday, February 20th 2015 - 04:34 UTC

  Fed latest minutes indicate “patience” prevails before a rise in interest rates

  

  Officials at the United States Federal Reserve are unlikely to raise interest rates soon, the latest minutes from the bank's January meeting have revealed. Policymakers worried about lower-than-expected inflation as well as slow wage growth in the US economy, the world's largest.

• Thursday, January 29th 2015 - 08:41 UTC

  Federal Reserve pledges to be 'patient' on raising interest rates from record lows

  

  The U.S. Federal Reserve on Wednesday after a two-day meeting reiterated its pledge to be patient and hold off on raising interest rates from the record low levels they’ve been at for the last six years. The Fed also pointed out it was watching “international developments” closely.

• Saturday, November 22nd 2014 - 05:49 UTC

  US Senate grills banks accused of 'unfair' trading practices with commoditisers

  

  Executives of three US banks are being grilled by senators over accusations the banks engaged in unfair trading practices relating to several commodities. A two-year report found that Goldman Sachs, Morgan Stanley and JP Morgan Chase bought up large stockpiles of commodities like aluminum and copper.