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The Latest Breaking News from Interest Rates

Money changes this November - including £330 pay boost for workers

A wave of new schemes and financial support will be brought in next month

Manchester Evening News

End of the walkway, watch your step

More than halfway through the fourth quarter of an eventful year, global economic and investment figures are more in line with our view. Key indicators in many economies are showing signs of deterioration.

Bangkok Post

Fed seen aggressively hiking to 5%, triggering global recession

Federal Reserve officials will maintain their resolutely hawkish stance next week, laying the groundwork for interest rates reaching 5% by March 2023, moves that seem likely to lead to a U.S. and global recession, economists surveyed by Bloomberg said.

Tribune News Service

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Mortgage Applications At A Near 30-Year Low - Has The Federal Reserve Gone Too Far?

Almost every day for the last several months, people have been subjected to a steady trickle of bad news about the state of America’s real estate market. Unless you’ve been living under a rock, it’s impossible to avoid talk of the U.S. Federal reserve’s almost yearlong spree of raising interest…

Benzinga

Schoolboy was so hungry he was caught trying to eat pot of glue, MP warns

A headteacher in Birmingham said a child was seen trying to eat a pot of glue and other pupils were 'a nervous wreck' at school due to the impact of the cost of living crisis

Daily Mirror

Interest rates yank Wall Street moon shots back down to Earth

Investors are no longer tolerating unprofitable long shots in a high-rate environment.

Axios

Bank of England expected to raise interest rates by 33-year high to 3%

Warnings that cuts and tax hikes could lead to deeper and longer recession

Wales Online

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The Bank of Canada just hiked interest rates for the sixth time — is it too late?

Following closely on the heels of the European Central Bank and the U.S. Federal Reserve Board, the Bank of Canada has raised its target interest rate by 50 basis points. This is its sixth interest rate hike this year.

The Conversation

European Central Bank hikes interest rates, fuelling recession fears

ECB chief Christine Lagarde notes concerns but warns of further hikes to tackle soaring eurozone inflation

The Guardian - UK

Egypt's Pound Slides as IMF Deal Triggers New Exchange Rate

Egypt's pound slid about 14.5% to a record low against the dollar on Thursday as authorities announced a $3 billion International Monetary Fund deal with a commitment to a "durably flexible exchange rate regime". The central bank also raised interest rates by 200 basis points in an out-of-cycle meeting, saying…

Asharq Al-Awsat

ECB's interest rate rise could help 'contain' house prices and inflation, says Leo Varadkar

The Tanaiste said that while the rise will not be welcomed by mortgage holders or borrowers, it will help bring down inflation and could bring down house prices

Irish Mirror

The European Central Bank announce 0.75% hike to interest rates - How it will affect your pocket

Following a meeting this afternoon in Frankfurt, it confirmed that interest rates would rise a further 0.75 per cent

Irish Mirror

US economy returned to growth last quarter, expanding 2.6%

The U.S. economy grew at a 2.6% annual rate from July through September, snapping two straight quarters of economic contraction and overcoming punishingly high inflation and interest rates.

Chicago Sun-Times

Real estate Q&A: How do I sell my home, and find a new one in this housing market?

Q: I need to move for a better job, and I am having trouble selling my home for what it is worth. I am concerned about finding a new home, especially with the rising interest rates. Do you have any advice? – Anne

Tribune News Service

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Evening Standard

ECB lift its interest rates by 0.75% in the battle to curb inflation

The move makes it even more likely that the Bank of England will follow suit next week

Tribune News Service

Housing market predictions for 2023

We’re rounding the corner on 2022 and quickly heading toward a new year. That makes this a perfect time to prognosticate real estate matters for 2023. With mortgage rates escalating higher, home sales — and, in some areas, home prices — hitting the brakes, and increased uncertainty felt throughout the…

Tribune News Service

Homeownership grows more unaffordable as average new mortgage payment increases over 95%

FORT LAUDERDALE, Fla. — The average new mortgage payment for a home has almost doubled in South Florida over the past year as interest rates skyrocket.

The Independent UK

EXPLAINER: What's up with the Bank of Japan's unique track?

Even as the Federal Reserve and the world’s other central banks raise interest rates to try to curb inflation, the Bank of Japan has stood firm, keeping its key interest rate at minus 0.1%

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Reason

The 'Experts' Were Never Going To Fix Inflation

The idea that the Fed has the knowledge necessary to control the economy with perfectly calibrated policies was always an illusion.

ABC News

ANZ revenue rises off interest rates and banks raise RBA cash rate forecasts

Helped by cash rate hikes, ANZ's revenue has risen 5 per cent. Meanwhile, other banks are raising forecasts of how far the RBA will hike the cash rate.

Tribune News Service

‘Winter is coming’: Commercial property sector plans for recession

DALLAS – Commercial real estate industry leaders are preparing for tougher times – tighter lending, higher interest rates and likely a recession.

Evening Standard

Barclays beats City forecasts, but bad debts rise

RISING interest rates pushed Barclays to £2 billion profit for the last three months, about £200 million better than City forecasts.

Bangkok Post

Krungsri remains upbeat on mortgage demand in Q4

Bank of Ayudhya (Krungsri) believes the trend of rising interest rates will not affect real demand for mortgages, predicting positive demand in the final quarter this year.

Benzinga

Home Flipping Is Down, And Those That Remain Are Looking For Cash Investors

The demise of a formerly hot home market, torn apart by increasing mortgage interest rates, is now beginning to affect a once thriving home-flipping environment.

Asharq Al-Awsat

Apple Reportedly Cuts Back Production of iPhone 14 Plus Due to Weak Demand

Apple Inc is cutting back production of iPhone 14 Plus and is increasing the output of the more expensive iPhone 14 Pro due to lukewarm demand, market research firm TrendForce said Tuesday. The share of more expensive iPhone 14 Pro series has increased to 60% of the total output from…

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