interest rate

The chances of another interest rate cut by the European Central Bank increased Friday after some of the bank's governors said borrowing costs may have to fall further to offset a worsening economic outlook and dropping inflation.

Federal Reserve Chairman Ben Bernanke pledged Friday to work closely with other central banks to fix global financial problems and left open the door to a fresh interest rate cut.

South Korea's central bank has cut its key interest rate for the third time in less than a month in a bid to boost the economy amid the global financial crisis.

The Australian central bank slashed its key interest rate by three-quarters of a percentage point rather than the half-percentage point that had been expected.

European markets were modestly lower after Japanese stocks fell despite the first interest rate cut in Japan in seven years.

The Bank of Japan cut its key interest rate on Friday for the first time in more than seven years, finally joining central banks around the world in trimming borrowing costs to cushion the impact of the global financial crisis.

The government reported Thursday the economy shrank in the summer, the strongest signal yet that a recession may have already begun, a day after the Federal Reserve slashed a key interest rate to battle an economic downturn.

An impatient White House prodded banks and other financial companies Tuesday to quit hoarding billions of dollars flowing into their vaults from Washington and start making more loans.

Wall Street soared nearly 900 points on bargain-hunting and hopes of a hefty interest rate cut by the Federal Reserve.

Iceland’s central bank upped its key interest rate to 18 percent in an attempt to prop up the country’s frozen currency and markets.

The U.S. Federal Reserve led a coordinated round of global official rate cuts on Wednesday, ordering an emergency interest rate cut of a half a percentage point.