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…
Australia’s ‘Big Four’ banks lift home loan rates to match central bank move
(Reuters) – Australia’s ‘Big Four’ banks will raise their home loan rates by 25 basis points this month, they said on Tuesday, passing on the full quarter-point interest rate hike announced by…
South Africa still has space to raise rates – central bank
By Bhargav Acharya and Alexander Winning JOHANNESBURG (Reuters) – South Africa still has space to raise interest rates, its central bank governor said on Tuesday ahead of a rate decision later this…
ECB must keep raising rates even if recession risks rise, Lagarde says
FRANKFURT (Reuters) – The European Central Bank must keep raising interest rates to fight off inflation, even if the probability of a euro zone recession has increased, ECB President Christine Lagarde said…
Goldman Sachs sees Fed rates peaking at 5% in March – Bloomberg News
(Reuters) – Goldman Sachs Group Inc’s economists said the U.S. Federal Reserve could bump up interest rates to as high as 5% by March 2023, 25 basis points above its earlier predictions,…
Analysis-Top central bankers fear breaking economy if they raise rates too fast
By Francesco Canepa FRANKFURT (Reuters) – The world’s top central bankers are beginning to fear that an already weak global economy will stall if they keep pressing on the brakes, unnerved by…
Bank of England poised to raise rates by most in 33 years
By William Schomberg LONDON (Reuters) – The Bank of England looks set to raise borrowing costs by the most since 1989 next week even as it prepares for a recession that could…
BOJ raises inflation forecasts, keeps ultra-low rates
TOKYO (Reuters) – The Bank of Japan raised its inflation forecasts on Friday but maintained ultra-low interest rates, remaining a dovish outlier among a global wave of central banks tightening monetary policy.…
Mortgage Rates Spike To Highest Level In Over 20 Years
Mortgage Rates Spike To Highest Level In Over 20 Years Bronson Winslow on October 26, 2022 Mortgage rates have continually increased for 10 straight weeks, with current 30-year fixed rates hitting their…
UK banks start cutting ‘Truss premium’ from mortgage rates, but slowly
By Iain Withers and Lawrence White LONDON (Reuters) – Having hiked mortgage rates after political turmoil drove up the cost of borrowing, British banks are now cutting home loan prices, albeit slowly,…
ECB hikes interest rates again
LONDON (Reuters) – The European Central Bank raised interest rates again on Thursday and signalled it was keen to start shrinking its bloated balance sheet, taking another big step in tightening policy…
ECB to hike interest rates, likely to trim bank subsidies
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – The European Central Bank will raise interest rates again on Thursday and likely reel in a key subsidy to commercial banks, taking another…
Brazil central bank holds interest rates, eyes moderating growth
By Marcela Ayres BRASILIA (Reuters) -Brazil’s central bank on Wednesday held interest rates at a nearly six-year high for the second policy meeting in a row, noting that economic growth seems to…
U.S. mortgage interest rates jump to 7.16%, highest since 2001
(Reuters) – The average interest rate on the most popular U.S. home loan rose to its highest level since 2001 as tightening financial conditions weigh on the housing sector, data from the…
IMF chief wants central banks to keep raising rates to hit ‘neutral’ level
By Christian Kraemer BERLIN (Reuters) – International Monetary Fund chief Kristalina Georgieva said on Wednesday that central banks should keep raising interest rates further to fight inflation until they hit a “neutral”…
European banks cash in on rising rates as clouds gather
By Tom Sims, John O’Donnell and Jesús Aguado FRANKFURT (Reuters) – Some of Europe’s largest banks warned of growing risks as the economy fizzles after posting stronger-than-expected profits on Wednesday, helped by…
Analysis-Wages, not yen, key to when Japan shifts away from ultra low rates
By Leika Kihara TOKYO (Reuters) – Solid wage growth, not a spiralling yen, is likely to be the trigger that drives the Bank of Japan away from its ultra-low interest rates as…
Investors warm to European debt after rates turn positive – funding officials
(Reuters) – Investors that were previously put off by negative interest rates in Europe in recent years are starting to return to market, funding officials for the European Investment Bank and European…
Portugal’s PM urges ECB to be prudent in raising interest rates
By Sergio Goncalves LISBON (Reuters) – Portugal’s Prime Minister Antonio Costa has urged the European Central Bank (ECB) to be prudent in raising interest rates from abnormally low levels, despite not expecting…
BOJ: Japan’s banking system stable but rising global rates a risk
TOKYO (Reuters) – Japan’s banking system remains stable as a whole but rising overseas interest rates could worsen the creditworthiness of highly leveraged firms, the Bank of Japan said on Friday. “Financial…
High Interest Rates Are Strangling The Mortgage Market
High Interest Rates Are Strangling The Mortgage Market John Hugh DeMastri on October 19, 2022 As mortgage and interest rates skyrocket, demand for new mortgages hit its lowest level in more…
Evans: Rates moving too high could have ‘nonlinear’ impact on economy
By Howard Schneider CHARLOTTESVILLE, Va. (Reuters) – Interest rates that move too high could have a “nonlinear” impact on the economy as businesses become more pessimistic about the future, Chicago Fed President…
Marketmind: Earnings vs Rates
(Reuters) – A look at the day ahead in U.S. and global markets from Mike Dolan. Market tension is building between surprising positivity still coming from the unfolding corporate earnings season and…
Poland has no ample space to hike rates, central banker Kochalski says
WARSAW (Reuters) – The Polish central bank does not have ample room to increase interest rates amid an expected economic slowdown, central banker Cezary Kochalski said on Tuesday. Poland’s inflation would remain…
ECB could start shrinking balance sheet once rates hit neutral, Knot says
WASHINGTON (Reuters) – The European Central Bank should consider starting to shrink its oversized stock of assets once interest rates rise to a level that neither stimulates nor slows economic growth, Dutch…
Senior KFC executives opt for retirement as interest rates hit pension payouts -WSJ
(Reuters) – Three senior KFC executives have notified the U.S. fried chicken chain’s parent company Yum Brands Inc that they will take early retirement as rising interest rates threaten to dent lump…
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