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…
Top Bank of Canada officials speak after rate decision
TORONTO – Below are some key quotes from a news conference by Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers on Wednesday after the central bank surprised by…
Bank of Canada rate hikes and policy moves
OTTAWA – The Bank of Canada hiked its policy rate to 2.5% on Wednesday from 1.5%, a surprise 100-basis-point move and its largest increase since August 1998. Here is a timeline of…
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…
French “Livret A” bank savings rate could be doubled in August – Villeroy
PARIS – France’s Livret A bank savings rate – held by millions of customers across the country – may be raised from 1% to 2% in August, the second rise of the…
Fed’s Williams: After fast rate hikes this year, uncertainty over what’s next
MAYAGUEZ, Puerto Rico – The Federal Funds rate will need to rise as high as 3.5% by the end of the year but what follows after that is far less certain, New…
Peru again hikes key interest rate in bid to tame inflation
LIMA – Peru’s central bank boosted borrowing costs on Thursday with a 12th consecutive hike of its key interest rate to reach 6.0%, as the bank struggles to tamp down stubbornly high…
RBNZ ‘on a roll’, to deliver two more 50 bps rate hikes in a row: Reuters poll
By Devayani Sathyan BENGALURU – The Reserve Bank of New Zealand will deliver a third successive half-point interest rate hike on Wednesday and a fourth next month in its most aggressive policy…
Fed needs to be aggressive on rate hikes, risk economic harm – Waller
(Reuters) – The U.S Federal Reserve needs to maintain focus on bringing down high inflation even if it runs the risk of causing economic harm, Fed Governor Christopher Waller said on Thursday.…
BoE’s Pill will consider bigger rate rises if needed
LONDON -Bank of England chief economist Huw Pill said on Thursday that he would consider a faster pace of interest rate rises to tackle “uncomfortably high” inflation, but only if needed to…
Speed up rate hikes to stop sticky inflation, BoE’s Mann says
By David Milliken LONDON -Central banks should move quickly when raising interest rates, because of the risk that persistent inflationary trends may be taking hold, Bank of England policymaker Catherine Mann said…
Dreaming of Places Far, Far Away: New Coldwell Banker Data Shows High Rate of Out-of-State Searches
Fresh Coldwell Banker data from the Move Meter℠ reveals where Americans are dreaming of moving MADISON, N.J., July 6, 2022 — This summer, as Americans enjoy their favorite activities to cool down, dreams of…
Analysis-‘Oil to the fire’: Poles face more rate hikes as government keeps cash flowing
By Alan Charlish and Pawel Florkiewicz WARSAW – Hopes that the Polish central bank’s monetary policy tightening cycle may be nearing its end could be shattered by government policies aiming to support…
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…
Philippine inflation near 4-year high, cements prospect of more rate hikes
By Enrico Dela Cruz and Karen Lema MANILA – Philippine inflation surged to the highest level in nearly four years in June, cementing expectations for more interest rate hikes and increasing the…
Japan’s service sector activity grows at fastest rate in over 8 years – PMI
TOKYO – Japan’s services sector activity expanded at the fastest pace in over eight years in June as the easing of coronavirus curbs boosted sentiment among businesses such as those in tourism.…
China, HK to launch rate ‘Swap Connect’ in boost to financial integration
HONG KONG -China and Hong Kong will launch a new “Swap Connect” scheme after six months, allowing mutual access to interest rate swaps trading to promote financial derivatives markets, and also upgraded…
Another inflation record firms case for bigger ECB rate hikes
FRANKFURT – Euro zone inflation hit yet another record high in June as price pressures broadened, and its peak could still be months away, firming the case for rapid European Central Bank…
Russia’s 2022 inflation seen at 14.5%, more rate cuts expected: Reuters poll
(Reuters) – Russia’s central bank will continue cutting rates to limit the depth of economic contraction this year as inflation will be lower than previously thought, a Reuters poll suggested on Thursday.…
Russia’s jobless rate falls to record low but economic hurdles mount
MOSCOW – Russia’s unemployment rate dropped to a record low in May but industrial output fell and consumer demand, measured by retail sales, waned after a decline in real wages amid high…
Incoming Philippine central bank governor not ruling out more rate hikes
MANILA – Incoming Philippine central bank governor Felipe Medalla said on Wednesday he was not ruling out further interest rate hikes to combat above-target inflation even as he stressed that future policy…
Biden raises U.S. tariff rate on certain Russian imports to 35%
WASHINGTON – U.S. President Joe Biden on Monday raised the tariff rate on certain Russian imports to 35% as a result of suspending Russia’s “most favored nation” trading status over its war…
Banking body BIS urges decisive wave of global rate hikes to stem inflation
By Marc Jones LONDON – The world’s central bank umbrella body, the Bank for International Settlements (BIS), has called for interest rates to be raised “quickly and decisively” to prevent the surge…
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…
BoE’s Pill says rate rises are a blunt tool, cannot fine-tune sterling
By David Milliken and Andy Bruce LONDON – The Bank of England’s monetary policy must focus on its main goal of controlling inflation, rather than trying too hard to stabilise the exchange…
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