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…
U.S. pending home sales tumble in June as mortgage rate soar
WASHINGTON – Contracts to buy U.S. previously owned homes fell more than expected in June as rising mortgage rates and higher house prices continued to reduce affordability for entry-level and first-time buyers.…
Bank of Canada rate hikes to sting many home equity borrowers
By Nichola Saminather TORONTO – Canadians whose use of home equity lines of credit (HELOC) has climbed recently following a surge in real estate values during the pandemic could be hit by…
China money rate falls to 1-1/2 year low ahead of month-end demand
SHANGHAI – China’s key money market rate touched a 1-1/2-year low on Tuesday, showing little sign of stress due to ample liquidity ahead of month-end peak demand for cash. The elevated liquidity…
‘You’d Be Angry Too’: LA Squanders Millions Of Dollars In Housing Vouchers As Homeless Death Rate Soars
‘You’d Be Angry Too’: LA Squanders Millions Of Dollars In Housing Vouchers As Homeless Death Rate Soars John Hugh DeMastri on July 25, 2022 The City of Los Angeles utilized less than…
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…
Colombia’s central bank seen hiking benchmark interest rate to 9%- Reuters Poll
By Nelson Bocanegra BOGOTA – Colombia’s central bank could hike its benchmark interest rate to 9% at its meeting next week, maintaining rate-increase intensity amid persistent inflation while reaching the end of…
Nepal central bank hikes policy rate, warns of pressure on FX reserves
By Gopal Sharma KATHMANDU -Nepal’s central bank on Friday raised its benchmark policy rate at which it lends to commercial banks to 8.5% from 7%, as part of efforts to tame inflation…
Kazakh central bank seen keeping policy rate at 14%: Reuters Poll
ALMATY – Kazakhstan’s central bank appears likely to keep its benchmark interest rate at 14% on Monday as inflationary risks remain elevated, according to analysts surveyed in a Reuters poll. Four of…
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…
Indonesia central bank holds policy rate, will lift longer short-term yields
By Gayatri Suroyo and Fransiska Nangoy JAKARTA – Indonesia’s central bank left its policy interest rate unchanged at a record low on Thursday but said it would lift yields on other short-term…
‘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…
Russian consumer prices dip again as cenbank rate meeting looms
MOSCOW – Consumer prices in Russia declined 0.17% in the week to July 15 after sliding 0.03% a week earlier, data showed on Wednesday, keeping the door open for the central bank…
Australia’s central bank sees more rate rises, welcomes government review
By Wayne Cole SYDNEY – Australia’s top central banker on Wednesday indicated a steady drum beat of interest rate rises were needed to stop a damaging inflationary cycle developing, and suggested rates…
Australia to review central bank’s monetary tools, rate forecasts
SYDNEY – Australia will launch a review of the Reserve Bank of Australia’s (RBA) inflation target, monetary tools and board structure, Treasurer Jim Chalmers said on Wednesday, amid criticism over the central…
UK jobless rate holds at 3.8% as jobs boom continues
LONDON -Britain’s unemployment rate held at 3.8% in the three months to May and the number of people in work rose by the most since the middle of 2021, suggesting the cost-of-living…
Russia seen cutting key rate by 50 bps to 9% on Friday
(This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine.) MOSCOW – The Russian central bank is expected to cut its key interest rate by…
New Zealand’s inflation hits 3-decade high, raising bets on sharper rate hikes
By Lucy Craymer WELLINGTON -New Zealand’s consumer prices rose at their fastest pace in three decades, beating forecasts and raising the prospect of an unprecedented 75 basis point interest rate hike at…
Fed’s Bullard says policy rate should be at least 3.75% by end of 2022
(Reuters) – The U.S. Federal Reserve should target a policy rate in the range of 3.75% to 4% by the end of this year in light of this week’s hotter-than-expected inflation data,…
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,…
Thai key rate likely to rise at Aug meeting – central bank official
By Orathai Sriring and Satawasin Sta[censored]charnchai BANGKOK – Thailand’s central bank is highly likely to raise its key policy rate at its August meeting, a senior director said on Thursday, as other…
China seen keeping medium-term policy rate unchanged for a sixth month
SHANGHAI – China’s central bank is widely expected to keep unchanged the borrowing costs on its medium-term policy loans for the sixth consecutive month on Friday, a Reuters survey showed. Aggressive global…
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,…
Chile’s central bank raises interest rate to 9.75%
SANTIAGO – Chile’s central bank raised its benchmark interest rate to 9.75% on Wednesday, from 9.0% previously, and said it expected more rate hikes would be necessary as it looks to rein…
Russia records weekly consumer prices dip as cenbank rate meeting looms
(This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine) MOSCOW – Consumer prices in Russia declined 0.03% in the week to July 8 after…
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