Interest Rate | featured news

Gold futures barrel to a new record high above $1,100 an ounce, as news that the U.S. unemployment rate topped 10.2% in October boost expectations the Federal Reserve will keep interest rates near zero well into next year, pressuring the dollar.

The Federal Reserve signaled on Wednesday that it isn’t close to raising interest rates, saying the economy remains weak.

Australia's central bank raised its key cash rate by 25 basis points to 3.25 percent on Tuesday, as surprising economic strength allowed it to withdraw some of the exceptional stimulus doled out during the global credit crisis.

U.S. mortgage applications fell last week despite the lowest loan rates in four months, the Mortgage Bankers Association said.

Rates can fall to 2%--if you know how to play the game.

The U.S. Federal Reserve is expected to take note of an improving economy at the close of a meeting on Wednesday, while cautioning that high unemployment puts the recovery at risk.

Stocks gained, the dollar slid and commodities rose as the Fed prepared to begin a two-day meeting on interest rates.

Despite the positive signs, Ben S. Bernanke told lawmakers, the labor market remains weak, and interest rates will likely remain low for some time.

The central bank said it would expand its program of purchasing corporate debt and government bonds by $75 billion and kept its key interest rate at 0.5 percent.

The U.S. Federal Reserve rejected a request to force credit card companies to immediately halt retroactive interest-rate increases on existing balances, Democratic Senator Charles Schumer said on Tuesday.