JCP&L Suspends Summer Shut-Offs as New Jersey Electricity Rates Increase 20%
HOLMDEL, N.J. — A failed state energy plan has resulted in electricity rate increases as high as 20% in New Jersey, thanks to Governor Phil Murphy’s failed clean energy agenda, but one…
Bank of Canada seen hiking rates quarter point to tame stubborn inflation
By Steve Scherer OTTAWA (Reuters) – The Bank of Canada (BoC) is heading toward a second consecutive quarter-point interest rate hike on Wednesday after a month of economic data revealed resilient growth,…
Marketmind: Markets buckle under US rates, China blues
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian markets are set for a torrid end to the week on…
U.S. mortgage rates rise to 6.81%, highest level this year -Freddie Mac
NEW YORK (Reuters) – U.S. 30-year mortgage rates rose to an average of 6.81% this week, the highest level of 2023, according to Freddie Mac’s mortgage market survey. Mortgage rates have risen…
Small U.S. homebuilders tap the brakes as credit squeeze, rising rates hurt
By Ananta agarwal (Reuters) – Small U.S. homebuilders are backing off from bringing more houses to the market, discouraged by a banking crisis-led credit squeeze and rising borrowing costs, industry experts said,…
Malaysia’s central bank hits pause on rates as price pressures ease
By A. Ananthalakshmi and Rozanna Latiff KUALA LUMPUR (Reuters) -Malaysia’s central bank kept benchmark interest rates unchanged on Thursday, as expected, amid signs of moderating growth and easing inflation, with economists saying…
Aussie retailers in for more pain as high interest rates squeeze spending – Citi
(Reuters) – Australian retailers are in for a sombre period this fiscal year as high interest rates squeeze household budgets, especially for discretionary spending, Citigroup said on Thursday, with expected further rate…
EMFX will hold gains into 2024 provided central banks hold rates: Reuters poll
By Vuyani Ndaba JOHANNESBURG (Reuters) – Emerging market currencies will hold on to gains into next year provided their respective central banks hold or only moderately prune already-high interest rates that have…
‘Error Rates’ For Food Stamp Payments Soar To New Heights Under Biden Admin
‘Error Rates’ For Food Stamp Payments Soar To New Heights Under Biden Admin Will Kessler on July 5, 2023 The U.S. Department of Agriculture (USDA) erroneously overpaid in nearly 10% of food…
Sri Lanka central bank to cut rates further on faster inflation drop
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s central bank is widely expected to loosen monetary policy further on Thursday, following a massive 250-basis-point interest rate cut in June, as it looks…
UK’s Hunt backs regulator to ensure banks pass on better rates to savers
LONDON (Reuters) – British finance minister Jeremy Hunt gave his backing to the country’s financial regulator FCA to ensure banks are passing on better savings rates to consumers. “Increased interest rates must…
China state lenders lower dollar deposit rates for second time in a month – sources
By Winni Zhou and Ryan Woo SHANGHAI/BEIJING (Reuters) – China’s major state banks have lowered their dollar deposit rates for the second time in a month, seven banking sources with direct knowledge…
Don’t assume rates and inflation will settle back down – BoE’s Greene
LONDON (Reuters) – Megan Greene, who is due to join the Bank of England’s Monetary Policy Committee this week, said central banks should not assume that interest rates will settle back down…
Senate Clears Singer Bill Increasing Reimbursement Rates for “SUD” Treatment
A measure sponsored by Sen. Robert Singer that would increase Medicaid reimbursement for in-person partial care substance use disorder (SUD) treatment was approved today by the New Jersey Senate.…
Fed trying to figure out if rates are high enough: Goolsbee
(Reuters) – Chicago Federal Reserve Bank President Austan Goolsbee on Friday said that he and colleagues will be parsing what will be “a lot of data” between now and the Fed’s meeting…
Emerging markets carry investor hopes for H2 on lower inflation, rates
By Rodrigo Campos and Marc Jones NEW YORK/LONDON (Reuters) – From BlackRock to JPMorgan, some of the world’s top investors are upbeat on emerging markets for the second half of the year…
China’s PBOC asks foreign banks about dollar deposit rates amid weak yuan – sources
SHANGHAI/BEIJING (Reuters) – China’s central bank has surveyed some foreign banks in the past week about the interest rates they offer to their clients for dollar deposits, people familiar with the matter…
ECB’s Villeroy: duration more important than level of interest rates
PARIS (Reuters) – How long the European Central Bank keeps rates elevated is more important than the actual level, though rates are close to levels needed to get inflation headed to a…
Bank of England’s Bailey: We will see if markets are right on rates
By Francesco Canepa and Balazs Koranyi SINTRA, Portugal (Reuters) -Bank of England (BoE) Governor Andrew Bailey said it remained to be seen if financial markets are right about how high the British…
Singer Bill that Increases Reimbursement Rates for Substance Use Disorder Treatment Clears Committee
Legislation sponsored by Sen. Robert Singer that would increase Medicaid reimbursement for in-person partial care substance use disorder (SUD) treatment cleared the Senate Budget and Appropriations Committee.…
Marketmind: Inflation, rates worries supersede Russia stress
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian markets on Tuesday are set to open on the defensive, pressured…
India’s cenbank may cut rates in early 2024 as inflation eases – S&P
MUMBAI (Reuters) – The Reserve Bank of India will likely start cutting the policy repo rate in early 2024 once headline inflation eases toward the 4% target, S&P Global Ratings said. “In…
Thai rates still low, tightening to be gradual, says central bank official
BANGKOK (Reuters) – Thailand’s policy interest rate remains low and further tightening will be gradual to curb inflation risks as the economy continues to recover, a deputy central bank governor said on…
Big central banks are still hiking rates but eye the end
LONDON (Reuters) – Inflation is cooling, meaning major central banks can start to think about ending interest rate hikes even if most are not there just yet. The Bank of England, an…
Atlanta Fed’s Bostic: Rates should stay steady from here
By Howard Schneider WASHINGTON (Reuters) – The Federal Reserve should not raise interest rates further or it would risk “needlessly” sapping the strength of the U.S. economy, Atlanta Federal Reserve President Raphael…
Exclusive-Credit Suisse seeks to win back clients back with above-market rates
By Vidya Ranganathan and Stefania Spezzati SINGAPORE/LONDON (Reuters) – Credit Suisse, driven into a rescue by UBS after heavy cash outflows, is seeking to claw back business by offering rich clients some…
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