New Jersey unions slam Murphy’s 37 percent healthcare hike, demand emergency legislative return
TRENTON — A coalition of more than a dozen public sector unions representing over 140,000 New Jersey workers is pushing back against Governor Phil Murphy’s proposed 37% increase in healthcare costs for…
S.Korea’s home prices to fall up to 2.8% with 100 bp rate hike – central bank report
By Cynthia Kim SEOUL – South Korea’s residential property prices are likely to drop by up to 2.8% in two years with a full percentage point hike in policy interest rate, according…
RBI to raise rates in August but no consensus on size of hike – Reuters Poll
By Arsh Tushar Mogre BENGALURU – The Reserve Bank of India will hike its key interest rate on Friday, economists polled by Reuters said, but there was no consensus on the size…
Proposed U.S. corporate tax hike won’t save global minimum tax deal
By David Lawder WASHINGTON – A corporate minimum tax proposed this week in a congressional spending bill would not bring the United States into compliance with a separately negotiated 137-country deal for…
Thai central bank likely to hike rate next month, ups GDP outlook – official
BANGKOK – Thailand’s central bank is highly likely to raise its key policy rate at its August meeting, an official said on Friday, as its economic recovery gains more traction and as…
Manchin’s Spending Bill Shafts Coal Miners With Massive Tax Hike
Manchin’s Spending Bill Shafts Coal Miners With Massive Tax Hike Jack McEvoy on July 28, 2022 Democratic Sen. Joe Manchin of West Virginia, the nation’s second-largest producer of coal, is backing a…
OPEC+ to weigh holding oil output steady or small hike, sources say
By Alex Lawler and Ahmad Ghaddar LONDON – OPEC and its allies will consider keeping oil output unchanged for September when they meet next week, despite calls from the United States for…
Several Taiwan central bank board members raise off-cycle rate hike possibility
TAIPEI – Several board members of Taiwan’s central bank suggested that it could make an off-cycle rate hike before the next scheduled meeting in September, minutes of their June meeting showed on…
BoE torn over whether to join big rate hike club
By William Schomberg LONDON – The Bank of England must decide next week whether to join the ranks of central banks rushing out their biggest interest rate hikes in decades, or whether…
Slowdown and cooling prices could ease rate hike pressure on BoE – PMI
By William Schomberg LONDON -Britain’s businesses grew at their slowest pace in 17 months in July and inflation pressures eased, according to an industry survey that might reduce pressure on the Bank…
Fed to stick to 75 bps hike in July; 40% chance of recession: Reuters poll
By Prerana Bhat BENGALURU – The U.S. Federal Reserve will opt for another 75 basis point rate hike rather than a larger move at its meeting next week to quell stubbornly-high inflation…
‘Impossible Situation’: Europe Faces Recession, Debt Crisis As Rate Hike Looms
‘Impossible Situation’: Europe Faces Recession, Debt Crisis As Rate Hike Looms Max Keating on July 20, 2022 The European Central Bank (ECB) will announce its first interest rate hike in over ten…
Bank of Israel unanimously backed 50 bps July hike to fight inflation -minutes
By Steven Scheer JERUSALEM – All six rate setters at the Bank of Israel supported raising the benchmark interest rate by 0.5 point to 1.25% at their July 4 meeting in a…
More pain in store for Canadian consumers after jumbo rate hike
By Julie Gordon and Divya Rajagopal OTTAWA – The Bank of Canada’s surprise jumbo interest rate hike this week has jolted highly indebted consumers, who took out large mortgages during the pandemic,…
Fed’s Bullard favors 75 basis point hike in July over 100 for now – Nikkei
(Reuters) – St. Louis Federal Reserve President James Bullard would prefer to lift interest rates by 75 basis points at the central bank’s next meeting later this month, telling the Japanese news…
Marketmind: Euro at parity and talk of a 100 bps U.S. rate hike
A look at the day ahead in markets from Dhara Ranasinghe. After staring parity against the dollar in the face for days, the euro finally broke the key level — to the…
Philippines Finance Minister says economy robust enough to absorb aggressive rate hike
MANILA – The Philippine economy continues to be robust to absorb the 75 basis points increase in the central bank’s benchmark interest rates, given an expansion in economic activity early this year,…
U.S. rate futures lift chances of 100-bps hike in July Fed meeting after hot CPI data
NEW YORK – Futures on the federal funds rate have increased the chances of a full percentage-point hike at the Federal Reserve meeting later this month after a hotter-than-expected U.S. annual inflation…
Bank of Korea to hike rates by historic 50 bps – Reuters poll
By Shaloo Shrivastava and Cynthia Kim (Reuters) – South Korea’s central bank will deliver its first-ever 50 basis point rate rise to 2.25% on Wednesday, turning up the heat on a rate-hiking…
Instant View: FOMC members rallied around June’s 75 bp hike
NEW YORK – A deteriorating inflation situation and concern about lost faith in the Federal Reserve’s power to make it better prompted U.S. central bank officials to rally around an outsized interest…
Australia’s ‘big four’ banks pass on full 50 bp variable mortgage rate hike
(Reuters) – Australia’s “big four” lenders raised their home loan variable interest rates on Wednesday by 50 basis points (bps) per annum, passing on the central bank’s third consecutive rate hike in…
RBA to hike rates by another 50 bps in July to make up for lost time: Reuters poll
By Devayani Sathyan BENGALURU – Australia’s central bank will deliver another half percentage-point interest rate hike on Tuesday as it fights to tame surging inflation, marking the first time it has ever…
Australia’s big banks hike fixed-rate home loans amid rising interest rates
By Byron Kaye SYDNEY – Two of Australia’s biggest home lenders jacked up fixed-rate home loans in line with increases to their own borrowing costs, spokespeople told Reuters, adding to pressure on…
Fed’s Mester backs 75 bps hike in July if economic conditions remain same – CNBC
(Reuters) – Cleveland Federal Reserve Bank President Loretta Mester told CNBC on Wednesday if economic conditions remain the same, she will advocate for a 75 basis points (bps) hike in interest rates…
Fed’s Daly: 75 bps rate hike likely needed in July
(Reuters) – San Francisco Federal Reserve Bank President Mary Daly on Friday said another 75 basis point interest rate hike in July is her “starting point,” though if the economy slows more…
Fed’s Evans: another big rate hike ‘reasonable’ for July
By Ann Saphir (Reuters) – Chicago Federal Reserve Bank President Charles Evans on Wednesday signaled he would likely back another big interest rate hike in July unless inflation data improves, saying the…
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