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…
Fed’s George feared 75-basis-point rate hike added to ‘policy uncertainty’
(Reuters) – Kansas City Federal Reserve President Esther George on Friday said she dissented against the U.S. central bank’s three-quarters-of-a-percentage-point interest rate increase this week because she “viewed that move as adding…
ECB’s Knot says several 50 bps rate hikes possible if inflation worsens
BRUSSELS -European Central Bank policymaker Klaas Knot told Dutch radio broadcaster BNR on Friday the ECB may need to make several 50 basis point rate hikes if inflation continues to rise and…
ECB rate rises will be more gradual than Fed’s, says Draghi
KYIV – The European Central Bank will inevitably raise interest rates more slowly than the U.S. Federal Reserve given the different economic circumstance in the euro zone, Italian Prime Minister Mario Draghi…
Analysis-Bank of England keeping its options open for future rate hikes
By William Schomberg LONDON – The Bank of England has kept investors guessing about whether it is part of the pack of central banks signalling further big increases in interest rates in…
HSBC leaves best lending rate unchanged at 5% despite central bank hike
HONG KONG – HSBC Holdings said on Thursday it will leave its best lending rate unchanged in Hong Kong at 5% despite the city’s central bank raising the base rate. The Hong…
Dollar extends gains after Fed rate decision
NEW YORK – The U.S. dollar extended its gains on Wednesday, after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in…
China set to keep medium-term rate unchanged on Wednesday, poll shows
SHANGHAI – China’s central bank is expected to keep unchanged for a fifth straight month on Wednesday the borrowing costs on its medium-term policy loans, a Reuters survey of 31 traders and…
Ukraine’s central bank says interest rate decisions depend on war
KYIV – Ukraine’s central bank said the situation in the war with Russia will determine whether its key interest rate can be cut from the current level of 25% or whether further…
Taiwan central bank set to raise policy rate as inflation hits 10-year high- Reuters poll
TAIPEI – Taiwan’s central bank is likely to raise its policy rate again this week, according to all economists polled by Reuters, to help fend off inflation now at an almost 10-year…
Taiwan says U.S. understands its exchange rate policy stance
TAIPEI – The United States understands Taiwan’s exchange rate policy stance and the two sides have “good” communication, a Taiwanese central bank official said on Friday, after the U.S. Treasury put Taiwan…
UK think-tank says Sunak has cost taxpayers 11 billion pounds on rate hit
LONDON – A think-tank has estimated that British taxpayers are facing an 11-billion-pound ($13.7 billion) hit after finance minister Rishi Sunak failed to heed its advice on how to manage the public…
Thailand to go slow with rate hikes as pandemic drag lingers
By Orathai Sriring and Satawasin Sta[censored]charnchai BANGKOK – A shift by Thailand’s central bank to a more hawkish footing this week stunned markets and appeared to finally end policymakers’ tolerance for mounting…
Peru’s central bank raises benchmark interest rate to 5.5%
LIMA – Peru’s central bank raised the country’s benchmark interest rate by 50 basis points to 5.5% on Thursday, the eleventh consecutive hike, as authorities in the copper-producing Andean nation battle stubbornly…
Mexico annual inflation rate near 21-year high, rate hike seen
By Gabriel Araujo and Jackie Botts MEXICO CITY – Mexican inflation rose faster than expected in May, data from the INEGI national statistics agency showed on Thursday, prompting bets the Bank of…
Argentina interest rate seen up 200 bps as inflation boils over
By Jorge Otaola BUENOS AIRES – Argentina’s benchmark interest rate is likely to be hiked another 200 basis points next week, analysts polled by Reuters estimated, as the central bank seeks to…
Turkey’s lira, bonds extend decline on inflation, rate cut concerns
By Nevzat Devranoglu ANKARA -Turkey’s lira tumbled more than 2% against the U.S. dollar on Wednesday and its bonds dropped sharply as worries grew over a surge in inflation and depleted official…
Russia seen cutting key rate by 100 bps to 10% on Friday- Reuters poll
(Reuters) – The Russian central bank is expected to cut its key interest rate by 100 basis points to 10% on Friday as it tries to make lending more affordable amid sluggish…
Investment banks ramp up ECB rate hike forecasts
(Reuters) – BofA Securities now expects the European Central Bank to hike interest rates by 150 basis points this year including 50 bps moves in July and September, it said in a…
Czech central banker flags potential stronger rate tightening -paper
PRAGUE -The Czech National Bank might be forced to raise interest rates by more than its current course suggests if a dovish majority is created on its board, board member Tomas Holub…
Fed policymakers: September rate hike a question of how big, not if
(Reuters) – The Federal Reserve is likely to continue tightening monetary policy beyond the half percentage point interest rate hikes expected at each of its next two meetings, two policymakers signaled on…
Fed’s Mester: more rate hikes ahead in ‘painful’ battle with inflation
(Reuters) – The Federal Reserve needs to raise rates by a half-of-a-percentage point at each of its next two meetings, and then assess if inflation has moderated enough to slow the pace…
Canadian dollar to strengthen as BoC moves ‘aggressively’ on rate hikes – Reuters poll
By Fergal Smith TORONTO – The Canadian dollar will gain ground over the coming year as high commodity prices bolster Canada’s economic outlook and the Bank of Canada likely continues to raise…
Hungary central bank raises 1-week depo rate to 6.75% as inflation battle hots up
BUDAPEST -Hungary’s central bank raised its one-week deposit rate by 30 basis points (bps) to 6.75% as expected on Thursday, as the bank continues to tighten interest rate policy aiming to curb…
Deutsche Bank sees a 50 bps ECB rate hike by September
MILAN – Deutsche Bank economists have ramped up expectations over European Central Bank policy tightening and now expect one of the two interest rate hikes in the third quarter to be a…
Brazil’s jobless rate drops to 10.5% in quarter through April
SAO PAULO – Brazil’s jobless rate fell to 10.5% in the three months through April, making it the lowest since early 2016, statistics agency IBGE said on Tuesday. The unemployment rate came…
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