interest rates

Newspaper companies have been skipping loan payments, missing financial targets in debt agreements and accepting higher interest rates in exchange for more flexibility — and they're not even directly feeling the impact of the credit crisis yet.

South Korea, Taiwan and Hong Kong all slashed interest rates Thursday, joining in a chorus of cuts by central banks around the world aimed at fighting the global financial crisis.

Frantically trying to stop the bleeding on Wall Street, the Federal Reserve took a first-time step Tuesday to get cash directly to businesses and hinted that interest rates could come down soon.

Stocks continued their free fall anyway and hit new five-year lows.

In an address that was at once sobering but hopeful, the Fed chief hinted strongly that the Fed would lower interest rates at its meeting this month.

Although the Labor Department's last report indicated an easing of inflation to 5.4% and a research group said on Thursday that September inflation pressures fell to a more than six-year low, a Fed president thinks lowering interest rates is not the answer right now.

The bailout package should ease tight credit and hold down interest rates. But it does not go as far as some Democrats would have liked in helping distressed homeowners.

Despite pressure from the financial markets to cut interest rates, Fed Chairman Ben Bernanke sent a strong signal that he is hanging tough by keeping rates just where they are.

China abruptly reversed course on monetary policy, cutting interest rates and easing lending restrictions.

Both the European Central Bank and the Bank of England kept their key interest rates unchanged Thursday amid concerns of high inflation and a slowing economy.

The Bank of England is expected to keep interest rates steady at 5 percent despite a looming recession when it announces its monthly decision later Thursday.