Mobile UPI  |   About UPI  |   UPI en Español  |   UPI Arabic  |   UPIU  |   My Account
Search:
Go

Top News

A Scramble to Shore Up Economies Around the World

Oct. 27, 2008
The South Korean central bank slashed its key rate and the Japanese government expanded a program to aid banks, while the European Central Bank chief hinted at a new rate cut.
Related Stories from UPI.com

Two European banks cut interest rates

LONDON, Dec. 4 (UPI) -- Central banks in Britain and Sweden cut their key interest rates to 2 percent Thursday to provide liquidity to financial markets.

Europe expects rate cuts, more bad news

LONDON, Dec. 3 (UPI) -- European financial markets were braced for large interest rate cuts across the continent in the wake of more bad economic news.

Bank of Japan moves to free up lending

TOKYO, Dec. 2 (UPI) -- The Bank of Japan said Tuesday it would initiate a series of steps to pump $32 billion into the economy.

Bank of Korea arranges currency swap

SEOUL, Nov. 27 (UPI) -- The Bank of Korea said Thursday it would receive $4 billion through a U.S. Federal Reserve currency swap to shore up the won.

Growth in emerging Europe to slow

LONDON, Nov. 26 (UPI) -- The economies of Central and Eastern Europe and Central Asia are set for pronounced slowdowns in 2009, a bank that supports development in those regions said.

King says BOE may cut rates again

LONDON, Nov. 25 (UPI) -- Bank of England Gov. Mervyn King said Tuesday the central bank may need to cut rates to stimulate the country's sluggish lending.

Korean court clears Korean Exchange Bank

SEOUL, Nov. 24 (UPI) -- A Korean district court ruled Monday the sale of 51 percent of the Korean Exchange Bank to a U.S. equity firm was handled legally.

Inflation falls sharply in Britain

LONDON, Nov. 18 (UPI) -- Inflation in Britain fell in October by the biggest margin since 1997, possibly signaling a central bank lending rate cut in December, an economist said.

Holdup suspect complained bank had no cash

YORK, Pa., Nov. 14 (UPI) -- A would-be bank robber threatened to file an official complaint after finding that a bank in Springettsbury Township, Pa., had no cash on hand, police said.
Bernanke applauds central banks abroad

Bernanke applauds central banks abroad

FRANKFURT, Germany, Nov. 14 (UPI) -- U.S. Federal Reserve Chairman Ben Bernanke used an appearance in Frankfurt, Germany, Friday to highlight international banking cooperation.

Japanese bank official issues warning

TOKYO, Nov. 13 (UPI) -- A member of Bank of Japan's policy board Thursday warned Japan's sluggish economy could deteriorate further because of the global financial crisis.

BOE sees sharp contraction ahead

LONDON, Nov. 12 (UPI) -- The British economy could shrink 2 percent in the second quarter of 2009, the Bank of England said Thursday.

Conference on Central Asian security held

KABUL, Afghanistan, Nov. 10 (UPI) -- A conference hosted by the Afghan government designed to facilitate cooperation on countering security threats in Central Asia concluded Monday.

ECB rate cut falls short, France says

PARIS, Nov. 7 (UPI) -- French Finance Minister Christine Lagarde said the European Central Bank's lending rate cut this week wasn't good enough.

Lloyds to pass rate cut on to customers

LONDON, Nov. 6 (UPI) -- A major British bank said it would pass on the full lending rate cut announced by the Bank of England Thursday to its customers.
1 of 23
Vietnam Veterans Memorial Commemorated in Washington
View Caption
A U.S. Air Force B-52 flies over the Vietnam Veterans Memorial during commemoration of 50th anniversary of the war on May 28, 2012 in Washington, DC. President Barack Obama is at the base of the wall left center. More than 58,000 names of the servicemen who were killed or missing in the war are engraved on The Wall. The B-52 bomber was used extensively during the Vietnam War. UPI/Pat Benic