State Farm notifies New Jersey policyholders of potential 147 percent rate hike
TRENTON, N.J. — State Farm Insurance has notified policyholders in New Jersey of a potential overall rate increase of up to 147% for its Personal Liability Umbrella Program, according to a formal…
Jackson Township Council Opposes JCP&L’s Proposed 17-20% Summer Electricity Rate Hike
JACKSON TOWNSHIP, NJ – The Jackson Township Council is voicing strong opposition to Jersey Central Power & Light’s (JCP&L) proposed 17-20% electricity rate increase set to take effect in the summer of…
Spotify Announces Rate Increase for Premium Subscription
Spotify, the popular music streaming service, has announced an upcoming price hike for its Premium Family subscription. Starting in July, the monthly rate will increase from $16.99 to $19.99. According to the…
BOJ to go slow in rate hikes after ending negative rate, says ex-central bank official
By Leika Kihara TOKYO (Reuters) – The Bank of Japan may end negative interest rates in April but will likely go slow in any further steps towards normalising ultra-loose monetary policy, the…
Israel inflation eases to 3.3% rate, lowest since March 2022
JERUSALEM (Reuters) – Israel’s inflation rate eased to a 16-month month low of 3.3% in July from 4.2% in June, a drop that could continue to keep further Bank of Israel interest…
Argentina raises interest rate, devalues peso after shock primary election -official source
BUENOS AIRES (Reuters) – Argentina’s central bank will raise the benchmark interest rate to 118% from 97% previously, an official source said Monday, adding the country’s currency will be devalued to 350…
China central bank seen cutting medium-term policy rate: Reuters poll
SHANGHAI/SINGAPORE (Reuters) – China’s central bank is widely expected to cut the borrowing cost of medium-term policy loans for the first time in 10 months on Thursday, after it lowered two key…
UBS raises expectations for ECB’s terminal rate; SocGen sees it peaking at 4%
(Reuters) -Economists at UBS expect the benchmark interest rate in the eurozone to peak at 3.75%, while Societe Generale sees it at 4% after the European Central Bank (ECB) signalled more tightening…
Denmark’s central bank raises key rate, following ECB hike
COPENHAGEN (Reuters) – Denmark’s central bank raised its key interest rate by 0.25 percentage points to 2.85% on Thursday, following a rate hike earlier in the day by the European Central Bank.…
Mexico’s Alsea profit slides as rising costs, exchange rate, taxes bite
MEXICO CITY (Reuters) -Mexican restaurant chain operator Alsea reported on Monday a 31% drop in its fourth-quarter net profit from a year earlier, hit by higher energy and raw materials costs and…
December’s Strong Jobs Report Unlikely To Slow Fed’s Rate Hikes
December’s Strong Jobs Report Unlikely To Slow Fed’s Rate Hikes John Hugh DeMastri on January 6, 2023 The U.S. added 223,000 jobs in December, surpassing investor expectations by roughly 20,000 and cooling…
US Manufacturing Cratered In December At Fastest Rate Since Pandemic Began
US Manufacturing Cratered In December At Fastest Rate Since Pandemic Began John Hugh DeMastri on January 3, 2023 The S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) fell at the fastest rate…
Bank deposit rates lag changes in Fed policy rate, NY Fed analysts say
NEW YORK (Reuters) – U.S. savers are being left behind by the Federal Reserve’s aggressive campaign of interest rate rises, and that’s unlikely to change soon. New research from the New York…
China central bank cuts 14-day reverse repo rate, steps up cash injections
SHANGHAI (Reuters) – China’s central bank lowered the borrowing cost of 14-day reverse repos on Monday and stepped up cash injections to counteract higher demand towards the quarter-end. The People’s Bank of…
Explainer-Can the ECB really stop at the ‘neutral’ rate?
FRANKFURT (Reuters) – As the European Central Bank raises interest rates to control inflation, a key debate is whether it can stop at a so-called ‘neutral’ level or whether it would still…
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…
Philippine central bank to continue supporting economic recovery despite rate hikes
MANILA – The Philippine central bank will continue supporting the economy’s recovery despite a planned 25 or 50 basis point rate hike this month, its governor said on Tuesday. Current policy rates…
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…
Russia’s 2022 inflation seen at 13.4%, more rate cuts to come: Reuters poll
MOSCOW – Analysts have trimmed their year-end inflation forecasts for Russia and see room for the central bank to continue cutting rates as it tries to blunt the impact of major sanctions,…
Colombia’s next finance minister says rate rises have limited impact on inflation
BOGOTA – Interest rate hikes have a limited capacity to rein in accelerating inflation because supply issues are one of the key drivers of consumer price increases, Colombia’s next finance minister, Jose…
The U.S. economy is shrinking. The Fed’s rate hikes may have only just begun to bite
By Ann Saphir and Lindsay Dunsmuir (Reuters) – The U.S. economy contracted for a second straight quarter, the Commerce Department reported on Thursday, a day after the Federal Reserve raised interest rates…
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…
Amid clouds on economic horizon, Spain’s jobless rate stays below 3 million mark
(Reuters) – Spain’s jobless number remained below three million for the second month running, falling to 12.48% in the April to June period of 2022 compared to 13.65% three months earlier, data…
HKMA chief says expects overnight interbank rate to rise at much faster pace
HONG KONG – Hong Kong Monetary Authority (HKMA) chief Eddie Yue said on Thursday he expects the city’s overnight and one-month interbank rate to continue to rise, but at a much faster…
Fed’s Powell: Another ‘unusually large’ rate increase may be warranted at next meeting
(Reuters) – Another “unusually large” increase in interest rates may be appropriate at the Federal Reserve’s September meeting, but the decision will be determined by the incoming economic data between now and…
Kuwait central bank raises key rate by 25 bps to 2.5%
(Reuters) – The Central Bank of Kuwait said on Wednesday it increased its discount rate by 25 basis points to 2.5%, after the U.S. Federal Reserve’s three quarters of a percentage point…
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