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…
Fed’s Harker: Would like to get rates above 3.4% and ‘sit for a while’
(Reuters) – Philadelphia Federal Reserve President Patrick Harker on Thursday said he would like to get interest rates above 3.4% and then “maybe sit for a while,” adding his voice to the…
Bank of Korea to raise rates on Thursday as price pressures mount – Reuters poll
By Devayani Sathyan BENGALURU (Reuters) – South Korea’s central bank will raise its key interest rate again on Thursday to fight inflation, according to a Reuters poll of economists, but they are…
As U.S. interest rates soar, four ways to manage credit cards now
By Chris Taylor NEW YORK (Reuters) – Try holding your credit card up to your ear, real close. You might hear the soft tick, tick, tick of your interest rate going up.…
‘Catastrophic’: DEA Administrator Says Mexican Cartels Are Killing Americans With Fentanyl At ‘Record Rates’
‘Catastrophic’: DEA Administrator Says Mexican Cartels Are Killing Americans With Fentanyl At ‘Record Rates’ Harold Hutchison on August 19, 2022 The administrator of the Drug Enforcement Administration (DEA) said Friday two Mexican…
Bank Indonesia to wait one more month to pull rates lever – Reuters poll
By Anant Chandak BENGALURU (Reuters) – Bank Indonesia (BI) is expected to leave its policy rate unchanged at record lows on Tuesday, a small majority of economists estimate in a Reuters poll.…
Egypt’s central bank seen hiking rates to dampen price rises – Reuters poll
CAIRO – The Central Bank of Egypt (CBE) will hike its overnight deposit rate by 50 basis points (bps) on Thursday as it works to keep inflation in check, a Reuters poll…
Thai banks urged to freeze rates even if cbank hikes policy rate-Finance Minister
BANGKOK – Thailand’s commercial banks should not rush to raise their interest rates even though the central bank will tighten monetary policy, the finance minister said on Wednesday. The Bank of Thailand…
Very unlikely Fed will cut interest rates next year – Kashkari
(Reuters) – Minneapolis Federal Reserve President Neel Kashkari said on Wednesday the possibility that the U.S. central bank will pivot to cutting interest rates next year is extremely unlikely. “Some financial markets…
Higher interest rates a ‘bright spot’ for Europe’s banks
By Tom Sims, Jesús Aguado and Lawrence White FRANKFURT/MADRID/LONDON – European banks are hoping the boost to their businesses from higher interest rates will be long-lasting as they navigate the economic fallout…
Global cenbanks lift rates by nearly 1,200 bps in July
By Karin Strohecker and Vincent Flasseur LONDON – Major developed and emerging market central banks around the globe delivered nearly 1,200 basis points in interest rate hikes in July alone, ramping up…
Fed’s Bullard: Rates will need to be ‘higher for longer’ if inflation does not recede
(Reuters) – If inflation does not respond to the Federal Reserve’s interest rate increases by easing as expected, then rates will have to remain “higher for longer,” St. Louis Federal Reserve President…
RBI to raise rates in August but no consensus on size of hike – Reuters Poll
By Arsh Tushar Mogre BENGALURU – The Reserve Bank of India will hike its key interest rate on Friday, economists polled by Reuters said, but there was no consensus on the size…
Brazil central bank to raise rates by 50 bps on Aug. 3: Reuters poll
By Valentine Hilaire MEXICO CITY – Brazil’s central bank will hike its key rate by 50 basis points next week, a Reuters poll showed on Friday, matching an increase at its last…
Bostic: Convinced Fed needs to keep raising rates to control inflation
WASHINGTON – The U.S. Federal Reserve will need to keep raising interest rates to control inflation but the pace and final level will be shaped heavily by data over the next two…
Ackman says rates should be ‘materially higher’ to kill inflation
(Reuters) – Billionaire investor Bill Ackman on Thursday said he expected inflation to come down soon, but not to the level of 2% unless the U.S. Federal Reserve maintained “materially higher” interest…
Australia cenbank to play catch-up, raise rates by 50 bps for third month on Aug 2
By Devayani Sathyan BENGALURU – Australia’s central bank will deliver its third consecutive half-point interest rate hike on Tuesday and another in September, playing catch-up with peers in a campaign to contain…
Powell says markets have been orderly as Fed has hiked rates
NEW YORK – Federal Reserve Chair Jerome Powell on Wednesday said he has been gratified to see that financial markets have behaved in an orderly way as the U.S. central bank has…
Brazil’s public debt rises 2.5% in June, interest rates keep soaring
BRASILIA -Brazil’s federal public debt grew 2.51% in June from the month before, and the average cost of domestic debt issuance kept soaring amid greater risk aversion, the Treasury said on Wednesday.…
BOJ to keep rates low, any change to policy will be gradual – ex-board member
By Leika Kihara and Divya Chowdhury MUMBAI – The Bank of Japan won’t make any quick or drastic changes to its monetary policy framework and is likely to keep interest rates low,…
Fed’s united front on interest rates may soon be tested
By Howard Schneider and Ann Saphir WASHINGTON/SAN FRANCISCO – Federal Reserve officials are likely to hit a key milestone this week with an interest rate hike that effectively ends pandemic-era support for…
European Central Bank will consider economic situation when deciding on rates -Holzmann
(Reuters) – The European Central Bank will consider the economic situation before deciding whether to press ahead with another big interest rate hike in September, policymaker and fiscal hawk Robert Holzmann said…
ECB will raise rates until inflation falls back to 2%, Lagarde says
FRANKFURT – The European Central bank will raise its interest rates until inflation falls back to its 2% target, the ECB’s President Christine Lagarde said in an interview with Germany’s Funke Mediengruppe…
Denmark’s decade-long experiment with negative rates seen ending soon
COPENHAGEN -Danish banks expect a decade-long experiment with negative interest rates to soon come to an end, after the country’s central bank raised its key interest rate, sending it closer towards positive…
ECB raises rates for first time in decade with safety net for debtors
FRANKFURT – The European Central Bank raised its interest rates for the first time since 2011 on Thursday and unveiled a new bond-buying programme to keep borrowing costs in check for the…
Ukraine war, higher rates to limit growth in developing Asia – ADB
By Karen Lema MANILA – The Asian Development Bank (ADB) on Thursday slashed its growth forecasts for developing Asia for this year and next, reflecting the economic fallout from Russia’s war in…
Breaking News
