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…
Analysis-Asia’s central banks forced to play catch-up in global rush to raise rates
By Rae Wee SINGAPORE – Having bucked a global dash to tighten monetary policy for a year, Asian central banks find themselves scrambling to catch up in order to tackle rising inflation…
Rates in Poland could rise less aggressively, central bankers say
WARSAW – Polish central bankers are weighing the scope of further rate hikes amid risks of an economic slowdown, with one rate-setter arguing future hikes should be smaller while another said rates…
U.S. banks take hit on leveraged loans as deals slump, rates rise
By Saeed Azhar and Elizabeth Dilts Marshall NEW YORK – U.S. banks have started taking a hit on their leveraged loans’ exposure as the outlook for dealmaking turns sour amid rising interest…
Fed’s Bostic: Should not move rates “too dramatically”
TAMPA, Fla – Moving interest rates “too dramatically” could undermine the positive trends still seen in the economy and add to the already large amount of uncertainty, Atlanta Fed president Raphael Bostic…
Bank of Korea to hike rates by historic 50 bps – Reuters poll
By Shaloo Shrivastava and Cynthia Kim (Reuters) – South Korea’s central bank will deliver its first-ever 50 basis point rate rise to 2.25% on Wednesday, turning up the heat on a rate-hiking…
Philippines central bank gov says may raise rates by 100 bps more this year
MANILA – The Philippine central bank may raise interest rates by 100 basis points more this year, its governor said on Wednesday, after annual inflation soared to a near four-year high in…
S.Korea policymakers to closely monitor impact of rising interest rates
SEOUL – South Korea’s finance ministry and central bank said on Monday they had agreed to cooperate in minimizing adverse risks of rising interest rates on vulnerable households and businesses. In a…
Czech president believes new central bank chief will stabilise rates
PRAGUE – The Czech National Bank’s new governor Ales Michl is likely to stabilise interest rates as he and three new board members are not keen on policy tightening, President Milos Zeman…
Consuelo Mack WealthTrack Prepares Individuals for an Era of Heightened Market Volatility, Inflation, and Higher Interest Rates in New Season
Season 19 premieres nationwide on public television beginning July 1 with economist and strategist David Rosenberg who warns of an “imminent recession.” Watch full episodes, exclusive interviews and more at wealthtrack.com NEW…
RBA to hike rates by another 50 bps in July to make up for lost time: Reuters poll
By Devayani Sathyan BENGALURU – Australia’s central bank will deliver another half percentage-point interest rate hike on Tuesday as it fights to tame surging inflation, marking the first time it has ever…
Australia’s big banks hike fixed-rate home loans amid rising interest rates
By Byron Kaye SYDNEY – Two of Australia’s biggest home lenders jacked up fixed-rate home loans in line with increases to their own borrowing costs, spokespeople told Reuters, adding to pressure on…
China needs to keep options to cut RRR, rates while waiting for bounce, says ex-regulator
SHANGHAI – China’s central bank needs to keep cuts to interest rates and banks’ reserve requirement ratio among its policy options while waiting for the economy to bounce back, a former senior…
Brazil’s public debt rises 2.01% in May, interest rates reach 5-year highs
BRASILIA – Brazil’s federal public debt rose 2.01% in May from the month before, with the average costs of domestic debt issuance jumping to the highest level in five years amid high…
Rates will remain main policy tool for BoE, Pill says
By William Schomberg LONDON – Bank of England Chief Economist Huw Pill said on Friday that interest rates would remain the central bank’s main monetary policy tool as it prepares to start…
Quadruple real rates? Ageing may turn to market headwind: Mike Dolan
By Mike Dolan LONDON – If you were hoping this was all a bad dream, take a deep breath. Many investors craving some return to “normal” from the wild economic and market…
Egypt central bank keeps interest rates steady
(Reuters) -Egypt’s central bank kept its overnight interest rates unchanged on Thursday, saying that for the next six months it would tolerate elevated inflation, caused mainly by the Ukrainian conflict, as the…
Fed’s Harker says interest rates should reach above 3%, then reassess
(Reuters) – The U.S. Federal Reserve should raise interest rates above 3% by the end of this year and then reassess how much more it needs to do to bring inflation down…
Fed’s Evans: will need to raise rates ‘a good deal more’
(Reuters) – Chicago Federal Reserve Bank President Charles Evans on Wednesday signaled he is with the core group at the U.S. central bank calling for continued rapid rate hikes to battle 40-year…
Fed to lift rates by 75 basis points in July, 50 bps in September – Reuters poll
By Prerana Bhat and Indradip Ghosh BENGALURU – The Federal Reserve will deliver another 75-basis-point interest rate hike in July, followed by a half-percentage-point rise in September, and won’t scale back to…
Bank Indonesia to hold rates in June but start hiking next quarter
By Arsh Tushar Mogre and Shaloo Shrivastava BENGALURU -Bank Indonesia will leave its key interest rate steady at 3.50% on Thursday but over one-quarter of economists in a Reuters poll expect a…
Rates on U.S. 30-year mortgages see biggest one-week increase since 1987
NEW YORK – U.S. housing finance giant Freddie Mac said on Thursday the average contract rate on a 30-year fixed-rate mortgage rose by more than half a percentage point to 5.78%, the…
Canada’s finance minister says ‘soft landing’ not guaranteed as rates rise
OTTAWA – Canadian Finance Minister Chrystia Freeland expressed confidence on Thursday in the Bank of Canada’s ability to rein in surging inflation and keep price gains from becoming entrenched, but said there…
Beset by uncertainties, Spanish borrowers lock in home loan rates
By Jesús Aguado MADRID – Spanish homeowners, fearing a return to the turmoil that nearly bankrupted their country a decade ago, are rushing to shield themselves from rising prices and runaway borrowing…
Global port congestion, high shipping rates to last into 2023 – execs
By Jeslyn Lerh SINGAPORE – Global port congestion is set to continue until at least early 2023 and keep spot freight rates elevated, logistics executives said on Wednesday, urging charterers to switch…
Gulf central banks raise rates as U.S. Fed lifts to 75 bps
By Yousef Saba DUBAI – Most Gulf central banks followed the U.S. Federal Reserve on Wednesday, lifting their key interest rates by three-quarters of a percentage point, while Saudi Arabia made a…
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