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The Latest Breaking News from Interest Rates

Fed will work to reduce inflation 'until the job is done': Board governor

DETROIT — Lisa Cook, a member of the Federal Reserve Board of Governors, said the Federal Reserve will continue to work to bring down inflation "until the job is done," which includes increasing interest rates.

Tribune News Service

Australian house prices fall seven months in a row but pace of decline slows

National house prices have fallen in November but the pace of decline has slowed as low stock levels persist and buyers push ahead with purchasing despite rising interest rates.

ABC News

India GDP halves in September quarter as COVID distortions fade

Economists warned that growth momentum may ease in the December quarter due to higher interest rates, slowing exports.

Al Jazeera

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Inflation may now have peaked. The RBA must tread carefully

The next worry for Philip Lowe is he’ll have to apologise for raising interest rates longer than needed

The Guardian - AU

Coastal property prices and climate risks are both soaring. We must pull our heads out of the sand

Australians’ well-documented affinity with the sun, surf and sand continues to fuel coastal property market growth. This growth defies rising interest rates and growing evidence of the impacts of climate change on people living in vulnerable coastal locations.

The Conversation

Will house prices go up in 2023? The answer largely depends on interest rates

Australian house prices are forecast to rise in several states if economic conditions are favourable, according to a new report from SQM Research.

ABC News

Philip Lowe is the easy fall guy for our economic woes. But maybe we should have listened to him more closely

Reserve Bank governor has been criticised for saying interest rates might not rise until 2024. But that message came with caveats some did not hear

The Guardian - AU

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RBA Governor Philip Lowe apologises to Australians struggling with mortgages

Reserve Bank Governor Philip Lowe has apologised to Australians for giving them unclear guidance that led to hundreds of thousands taking out big mortgages in the expectation that interest rates would stay low until 2024.

ABC News

RBA governor 'sorry people listened' to interest rate advice

Greens senator Nick McKim accused the governor of "inducing many Australians to take out mortgages in the belief that interest rates wouldn't rise until 2024".

The Canberra Times

Savers told to be flexible and consider switching savings accounts

As interest rates continue to climb, consumers need to shop around and find the best deals

Wales Online

High-rise mortgage costs see surge in rents across the UK

House prices may be falling as interest rates climb, but there’s no respite for tenants as property shortages bite

The Guardian - UK

Conflict of interest: have low cash rates created the ‘everything bubble’?

In new book The Price of Time, economist Edward Chancellor explores the role central banks have played in the snowballing challenges of the past quarter century

The Guardian - AU

Look to emerging markets in transitional year

We believe 2023 will be a transitional year, the next stage following the "low-rates, low-growth" years of 2010-19 and the "Covid years" of 2020-22, where the pandemic led to a global lockdown, massive fiscal spending, skyrocketing debt and the great reflation.

Bangkok Post

Canada's Alberta province forecasts C$12.3 billion budget surplus

Canada's main oil-producing province Alberta on Thursday forecast a C$12.3 billion ($9.2 billion) budget surplus for the 2022/23 fiscal year, but warned economic risks are increasing as high inflation, rising interest rates and geopolitical unrest slow global activity.

Reuters

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The Guardian - UK

UK workforce exodus could force BoE to raise interest rates, says chief economist

Departure of more than 500,000 workers since Covid risks stoking inflation, says Huw Pill

Ideal Home

Best first-time buyer mortgages available right now – June 2025

Buying your first property is an exciting but expensive life event which is why it is crucial that you get the best first-time buyer mortgage to suit your needs

The Conversation

The US dollar is getting stronger: African countries are feeling the pain and have few policy options

The US dollar has been advancing rapidly in response to the Federal Reserve’s resolve to keep raising policy rates for longer to regain control of stubbornly high inflation. This has far reaching consequences. The US dollar is prominently used around the world as an international medium of exchange and as…

Tribune News Service

The nation’s vacant homes present an opportunity — and a problem

With construction costs for new homes and interest rates soaring, vacant housing is drawing more attention as a shortcut to quickly getting more units on the market.

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The Guardian - AU

Australia’s economy remains afloat – but there are choppy waters ahead

The OECD predicts 1.9% economic growth for Australia next year. That’s the good news

The Independent UK

Edmunds: How to mitigate rising auto loan interest rates

The Federal Reserve issued its latest interest rate hike in early November

The Independent UK

New Zealand hikes interest rate to 4.25% to fight inflation

New Zealand’s central bank has hiked interest rates by a record amount as it tries to get inflation under control

Fortune

How to get a credit card advance

A cash advance can be useful if you need cash right away but you may face a 25% to 27% interest rate.

The New Daily

Michael Pascoe: Interest rates won’t work like they used to

The RBA board should be thinking very, very seriously about before lifting interest rates again, Michael Pascoe writes.

Foreign Affairs

Not Just Another Recession

Why the global economy may never be the same.

The Independent UK

2023 will be a very difficult year, OBR member warns MPs

David Miles said the impact of rising interest rates and inflation will cause pressure next year but they are predicted to turn a corner in 2024.

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