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…
BoE’s Dhingra warns of deeper and longer recession with higher rates
LONDON (Reuters) -Bank of England rate-setter Swati Dhingra said in an interview published on Saturday that higher interest rates could lead to a deeper and longer recession, adding there were few signs…
Brazil’s central bank to keep rates steady, stress fiscal concerns: Reuters poll
By Gabriel Burin BUENOS AIRES (Reuters) – Brazil’s central bank is set to keep its benchmark interest rate at a cycle-high of 13.75% next week, stressing heightened worries over new government plans…
RBA to raise rates another modest 25 basis points in December – Reuters poll
By Shaloo Shrivastava and Anant Chandak BENGALURU (Reuters) – The Reserve Bank of Australia will go for another modest 25 basis-point interest rate hike on Dec. 6 to 3.10%, its third in…
ECB’s Lane says real rates have already risen ‘quite a bit’
FRANKFURT (Reuters) – Real interest rates in the euro zone have already risen “quite a bit”, the European Central Bank’s chief economist said on Thursday, in comments suggesting he thought part of…
S&P warns of possible trebling of U.S., European default rates
LONDON (Reuters) – Credit rating firm S&P Global has warned that speculative-grade U.S. and European corporate default rates are likely to double and might even treble next year as rising borrowing costs…
Fed’s Bowman: interest rates need to be sufficiently restrictive “for some time”
(Reuters) -The Federal Reserve should slow the pace of its rate increases in order to assess the impact of its hiking cycle but inflation remains far too high and the central bank’s…
TD Bank quarterly profit jumps on higher rates boost
(Reuters) -Canada’s TD Bank posted a surge in fourth-quarter profit on Thursday as gains from higher interest rates boosted its personal and commercial business and helped offset weakness in underwriting and capital…
RBI seen raising rates by smaller 35bps in Dec, hiking again in early 2023: Reuters poll
By Shaloo Shrivastava BENGALURU (Reuters) – The Reserve Bank of India will raise interest rates by a smaller 35 basis points to 6.25% in December, according to economists polled by Reuters who…
Fed Chair Powell: cutting rates is not something to do soon
(Reuters) – Federal Reserve Chair Jerome Powell on Wednesday said the U.S. central bank should use a “risk management” approach to raising rates, going “slower and feeling our way a little bit”…
BofA CEO sees two-year housing slowdown as U.S. rates rise
By Lananh Nguyen and Niket Nishant (Reuters) – Bank of America Corp chief executive officer Brian Moynihan said activity in the U.S. housing market will probably slow for two years as the…
China lift, rates shift, crypto crunch
By Mike Dolan LONDON – A look at the day ahead in U.S. and global markets from Mike Dolan. Although Beijing’s moves to defuse tensions over its COVID-19 management stabilised local and…
Rates and recession: European shares face rocky start to 2023: Reuters Poll
By Danilo Masoni MILAN (Reuters) – Tightening financial conditions and the prospect of an economic recession are going to be a toxic brew for European shares going into 2023 with a key…
ECB’s Lagarde keeps options open on path for rates
FRANKFURT (Reuters) – European Central Bank President Christine Lagarde kept her options open as to the size and number of the ECB’s future interest rate hikes on Monday, saying this will depend…
Nepal expects reforms, says central bank, holding rates as election count goes on
By Gopal Sharma KATHMANDU (Reuters) – While Nepal awaited the outcome of national elections its central bank opted to hold its benchmark interest rates at 8.5% late on Sunday, and voiced expectations…
Indian banks’ loan growth to accelerate despite higher interest rates -Fitch
BENGALURU (Reuters) – Loan growth at Indian banks will accelerate to 13% in this fiscal year despite the RBI raising interest rates, as economic activity picks up after a pandemic led lull,…
NZ faces ‘shallow’ recession as rates need to rise more – senior central banker
By Stella Qiu SYDNEY (Reuters) – New Zealand is likely facing a “shallow” recession as interest rates need to rise further to tame inflation, a top central banker said on Monday, suggesting…
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…
Mexico’s central bank not about to ‘decouple’ from Fed on rates, board member says
MEXICO CITY (Reuters) – The Mexican central bank is “not ready yet to decouple” from the U.S. Federal Reserve, and to do so prematurely could weaken the peso currency, Bank of Mexico…
New Zealand’s central bank raises rates by 75bps
By Lucy Craymer WELLINGTON (Reuters) – New Zealand’s central bank raised interest rates by 75 basis points to a near 14-year high of 4.25% on Wednesday and flagged more hikes to come…
Fed’s George: Could take higher interest rates for longer to encourage saving
(Reuters) – The Federal Reserve may need to raise interest rates to a higher level and hold them there for longer in order to successfully moderate consumer demand and bring down high…
Bank of Canada says high rates starting to work, housing and debt a worry
By Steve Scherer and David Ljunggren OTTAWA (Reuters) – Higher interest rates are starting to slow the Canadian economy, the Bank of Canada said on Tuesday, putting pressure on households with elevated…
Sri Lanka to hold rates as inflation slows slightly, focus on IMF bailout
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s central bank is expected to keep rates steady as inflation shows signs of easing and as authorities focus on discussions to secure a $2.9…
Bank of Korea to hike rates a modest 25bps on Nov 24 as growth slows- Reuters poll
By Devayani Sathyan and Anant Chandak BENGALURU (Reuters) – South Korea’s central bank will scale back its tightening pace on Thursday and hike rates by a modest 25 basis points amid signs…
Hungary caps interest rates on large commercial bank deposits
BUDAPEST (Reuters) -Commercial banks in Hungary cannot pay an interest rate higher than the three-month discount bill yield on deposits by certain large institutional and private investors, the Minister for Economic Development…
Bank of Israel likely to raise rates above 3.5%, deputy governor says
JERUSALEM (Reuters) – The Bank of Israel is still in the process of front-loading interest rates and will likely raise rates to above 3.5%, Deputy Governor Andrew Abir said on Monday after…
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