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The Latest Breaking News from Inflation

Bank of England follows Fed with rate hike

The Bank of England has followed the US Federal Reserve in raising interest rates. Both economies are battling the highest level of inflation in years and hope that tighter monetary policy will curb spiralling price rises. Also in the show: Australia's new government commits to more ambitious emissions reduction targets,…

France 24

Inflation support schemes extended

The government has pledged to extend the existing 10 measures devised to alleviate the hardship of low-income earners from a surge in oil prices for three months until September.

Bangkok Post

Biden says recession is "not inevitable"

"We’re in a stronger position than any nation in the world to overcome this inflation,” Biden told the AP.

Axios

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read the most diverse news in one place.

Clorox vs. Newell Brands: Which Consumer Defensive Stock is a Better Investment?

The stock market has been facing immense volatility lately due to multi-decade high inflation. However, amid high inflationary pressures, consumer defensive stocks tend to remain resilient because of these companies' inelastic demand for products. Consumer defensive stocks The Clorox Company (CLX) and Newell Brands (NWL) look well-positioned to survive the…

StockNews.com

Biden says recession ‘not inevitable’ as Fed looks to raise interest rates to curb inflation

Financial analysts worry that the recent move into a ‘bear market’ foretells a coming recession

The Independent UK

Better Buy: Crown Castle International vs. American Tower

Since growing concerns over Fed’s aggressive interest rate hikes to control multi-decade high inflation could keep the overall stock market highly volatile in the near term, REITs Crown Castle (CCI) and American Tower (AMT) should provide a steady income stream. But which of these two stocks is a better buy…

StockNews.com

5 Tech Stocks You'll Regret Not Buying During the Sell-Off

The Federal Reserve’s continued monetary policy tightening to tame the surging inflation has been making investors concerned about the economy slipping into a recession soon. As a result, tech stocks are witnessing massive sell-offs. However, growing demand, impressive breakthroughs, and rising corporate and government investments in the tech industry should…

StockNews.com

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Biden says new shipping costs law may help tame inflation

President Joe Biden signed legislation Thursday meant to lower the cost of shipping goods across oceans

The Independent UK

Interest rate rise - all you need to know including impact on mortgage payments

Today's interest rates increase is expected to add around £21 a month - £252 a year - to the average repayments for a borrower with a £150,000 mortgage who is on their lender’s standard variable rate

Daily Mirror

A Wonky Evisceration of Biden's Bad Deficit Math

Interest rates and servicing costs could push us into worrisome territory sooner than we think.

Reason

Race for relevance: On the Fed’s interest rate hike

The Fed’s hike can accelerate the exit of foreign portfolio investments

The Hindu

Don't see any adverse impact of US Fed rate hike: DEA secretary

NEW DELHI: The government does not see any adverse impact on the Indian economy post the US Federal Reserve's decision to raise interest rates by 75 basis points, economic affairs secretary Ajay Seth said on Thursday.

The Times of India

‘Slap in the face’: unions demand higher wages for Queensland public servants as inflation bites

Palaszczuk government under pressure ahead of state budget after several years of 2.5% pay rises for workers

The Guardian - AU

Chancellor Rishi Sunak's message of 'reassurance' to Nottingham over cost of living crisis

'This is important for your readers - I really want them to be reassured that we will get inflation back under control'

Nottingham Post

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Irish Mirror

Inflation to increase National Children's Hospital costs by €51 million

Fianna Fail TD Paul McAuliffe noted that additional inflation costs 'could go as high as 100 million'

Benzinga

Verizon Slashes Broadband Prices For Domestic Mobile Users By 38%

Verizon Communications Inc (NYSE:VZ) slashed its home broadband price to $25 a month for wireless customers in select areas where its Fios fiber network and wireless internet service are available. Verizon will launch the plan in over 2,700 cities to customers with premium 5G mobile plans to help them beat the inflation. The…

Benzinga

What Impact Will A Recession Have On Crypto?

Bitcoin (CRYPTO: BTC) rallied almost 10% yesterday after reaching $20,100, as the Federal Reserve announcement of a 75 bp rate hike resulted in a short squeeze. Although a 50 bp hike was anticipated for many weeks, last Friday’s inflation data forced the market to price in a more aggressive hike…

Benzinga

Housing Beat: Mortgage Rates Soar While Housing Starts Drop

It was a seesaw week in the U.S. housing market, with mortgage rates taking off like a rocket while housing starts sank like a rock.

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Evening Standard

Grocery body predicts food prices to rise 15% by summer

IDG says boosts will leave households ‘looking to the future with considerable anxiety’

StockNews.com

3 Financial Stocks Wall Street Believes Will Rally by More Than 65%

The Federal Reserve’s resolution to tame the surging inflation by increasing interest rates bodes well for financial stocks as a rising interest rate environment helps them grow their revenues. Wall Street analysts expect financial stocks Interactive Brokers (IBKR), PacWest Bancorp (PACW), and Signature Bank (SBNY) to rally more than 65%…

Daily Mirror

Economists blast Boris Johnson for 'suppressing' Brits' wages as inflation soars

Economists from a host of universities and think tanks have written to the Prime Minister dismissing his claims over pay hikes fuelling inflation

Daily Mirror

Summer of discontent as UK hit by new Covid wave, strike chaos and rising prices

The threat of the biggest industrial action to hit Britain since 1926 is looming amid a record wave of energy price hikes which has stoked fears echoing those during the 1978-79 'winter of discontent'

The Independent UK

How high can US mortgage rates climb?

More than 18m American households that could have afforded a property in January now priced out of the market, says National Association of Realtors, as inflation bites

Daily Mirror

Homeowners face a £1667 increase in annual mortgage payments as BoE hikes interest rates again

Today’s announcement adds to consumer concern about the current economic climate, with Brits already struggling with the soaring inflation and cost of living crisis

The Independent UK

‘Tough times ahead’ for economy, warns Gove

The Communities Secretary said the Government and the Bank of England needed to ‘squeeze’ inflation out of the economy.

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