Crisis unabated despite central bank assault
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Investor delight at a concerted central bank attempt to relieve jammed money markets fizzled out on Thursday with experts saying the credit crisis would only end when commercial banks trusted each other again.
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The European Central Bank leaves its key interest rate unchanged at 2% for the 19th month in succession.
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Business & money: The crisis in financial markets is unlikely to prompt a property crash or even bring the upward trend in house prices to an end, a member of the Bank of England's monetary policy committee said today.
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Spanish banks have made a virtue recently of their almost negligible exposure to the US subprime mortgage crisis.
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The Bank of Canada left interest rates unchanged, saying the economy remained on track despite slower growth and the increased risk posed by a downturn in the United States housing market. The central bank left its key overnight rate at 4.25 percent for the second consecutive time after raising rates seven times between September 2005 and May of this year. Markets had widely expected the bank to hold rates steady. In a statement, the bank was not as dovish as had been expected, leaving analysts less sure about its next moves.
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The European Central Bank has little appetite for halting the euro&#39;s climb against the dollar just yet and only very rapid moves toward $1.
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Jean-Claude Trichet, president of the European Central Bank, has made clear that a cut in interest rates is not on the central bank&#39;s agenda, despite the increasingly damaging
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Turmoil in credit and housing has obscured a rise in prices.
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The European Central Bank left its key interest rate unchanged on Thursday but signaled that it could raise it pre-emptively if generous wage deals threaten to ignite inflation.
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Credit markets took another hit as the  Bank of England bailed out Britain&#39;s biggest casualty so far in  the global credit crunch while policymakers differed over the  best way to restore liquidity to money markets.
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The world's major central banks face the delicate balancing act of trying to ease the global credit crunch sparked by the US subprime home loan crisis while trying to rein in rising inflation.
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SINGAPORE: Chinaâs reluctance to unshackle the yuan when the dollar is plumbing record lows against the euro risks sparking political tensions that could complicate the already fraught task of ironing out global economic imbalances.
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Central banks should not respond to every wiggle from inflation as they seek steady prices and the &quot;too big to fail&quot; mantle enjoyed by Fannie Mae and Freddie Mac pose a threat to financial stability, St.
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Japan's central bank left its stimulative monetary policy unchanged, as widely expected, in a bid to support the current economic recovery and turn around years of price drops.
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The surge in oil prices over the  summer was not enough to derail the U.S. economy and the  central bank sees no reason to pause in its interest-rate rises  just yet, top Fed officials said on Thursday.
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The European Central Bank stood firm against the headwinds of global economic turmoil, citing the threat of higher inflation as it declined to follow the Bank of England's lead and reduce borrowing costs Thursday for its 15-nation region.
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NEW YORK -- Despite turmoil in the financial markets, the art market shows no signs of softening.