The U.S. dollar nursed big losses on Thursday and Asian government bonds rallied after the Federal Reserve vowed to buy long-dated U.S. Treasuries, reviving a practice not used in decades to revive an ailing economy.
The Federal Reserve resumed a two-day meeting on Wednesday that was expected to end with a vow to do whatever it takes to turn back the U.S. economy's deep recession but no new concrete steps to do so.
Bank shares powered ahead in Asia on Wednesday to underpin regional markets, while Japanese government bond futures edged up after the Bank of Japan sharply increased the debt it would buy to support the economy.
Asian stocks drifted higher on Wednesday as banks extended gains, while Japanese government bonds rose after the Bank of Japan sharply increased the amount of government debt it would purchase to support the economy.
The European Central Bank cut interest rates to an all-time low of 1.5 percent on Thursday, keeping up a record pace of reductions as the euro zone economy slides deeper into recession.
The Bank of England cut interest rates by 50 basis points to a record low of 0.5 percent on Thursday, and said it would pump 75 billion pounds of new money into buying assets, mostly gilts, in its battle with recession.
The Bank of England cut interest rates by 50 basis points on Thursday to a record low of 0.5 percent, and said it would buy 75 billion pounds of assets to expand the money supply and aid a recession-hit British economy.
The Federal Reserve stands ready to do everything in its power to combat the financial crisis and recession and buying long-term Treasury bonds could be helpful, a top Fed official said on Monday.
Few of us imagined in our wildest dreams that our global economy could have turned so rotten so quickly, Richard Fisher, president of the Federal Reserve Bank of Dallas, said in remarks prepared for...
TOKYO - Japan sank deeper into recession with its worst quarterly contraction in 35 years, data showed on Monday, its reliance on exports and soft domestic demand dragging down the world's second-largest economy.
The grim Japanese figures, coupled with disappointment over the lack of coordinated action from the G7 and worries about bank rescue plans pushed European shares down by 0.6 percent in...
Japan sank deeper into recession with its worst quarterly contraction in 35 years, data showed on Monday, its reliance on exports and soft domestic demand dragging down the world's second-largest economy.
Several important Japanese indicators were released overnight including industrial production, unemployment rate and inflation (see below for details). The releases make horrible reading.
