Bank of Japan Raises Interest Rates to Highest Level Since 2008

• Bank of Japan raises rates to highest level in 17 years

  Central bank signals more increases to come if wage and price growth hit forecasts
  
  Financial Times - 14h

• Japan hikes rates to highest since 2008 as sustained inflation, rising wages signal 'virtuous cycle' in play

  The move comes in line with expectations from CNBC's survey, where an overwhelming majority of economists predicted a hike.
  
  CNBC - 18h

• Bank of Japan is expected to hike rates this week, CNBC survey shows

  Out of 19 economists, 18 agreed on prospects of a rate hike, with most pointing to a recent change in tone of the BOJ leadership as driving their expectations.
  
  CNBC - 2d

• 30-Year Mortgage Rate Climbs to 6.93%, the Highest Since July

  Borrowing costs have been rising for months, tracking yields on government bonds. The move threatens to push more buyers and sellers to the sidelines.
  
  The New York Times - Jan. 9
• 

  UK 10-year borrowing costs hit highest level since 2008

  Treasury seeks to reassure markets as gilt sell-off threatens the government’s ability to meet its fiscal rules
  
  Financial Times - Jan. 8

• Mortgage rates hit highest level since July, crushing application demand

  Total mortgage application volume dropped 3.7% compared with the previous week.
  
  CNBC - Jan. 8

• Oil futures settle at their highest level since October

  Oil futures finished higher on Tuesday, shaking off their losses from a day earlier to resume the rally they started the year with and buoyed by expectations for stronger demand.
  
  MarketWatch - Jan. 7
• 

  UK long-term borrowing costs hit highest level since 1998

  Rising interest costs raise fears about chancellor’s ability to hit revised fiscal rules
  
  Financial Times - Jan. 7

More from The New York Times

• 

  Howard Lutnick, Trump’s Commerce Nominee, Discloses Business Interests

  Howard Lutnick disclosed details of complex financial interests, holding at least $800 million in assets.
  
  The New York Times - 2h
• 

  Bird Flu in U.S. Is Creating Egg Shortages and Driving Up Prices

  Avian influenza has led to a shortage of eggs and wholesale prices that are through the roof. Consumers can expect to feel the pain for a while.
  
  The New York Times - 2h
• 

  Trump’s Inflation Fix Centers on Energy Emergency That Doesn’t Exist

  Economists and analysts aren’t convinced that an expansion of oil and gas production will lower consumer prices.
  
  The New York Times - 7h
• 

  How to Invest During a Presidency With a Deep Devotion to Profits

  Big business has an inside track in the second Trump presidency, and people with a stake in those businesses have reason to rejoice, our columnist writes.
  
  The New York Times - 1h
• 

  Existing-Home Sales in 2024 Were Slowest in Decades Amid High Mortgage Rates

  The market perked up late in the year when interest rates eased, but affordability challenges yielded the fewest transactions since 1995.
  
  The New York Times - 4h

More in Business

• Trump recommends ending FEMA ahead of California fire site visit

  President Donald Trump will visit California to see the damage caused by wildfires around Los Angeles. FEMA has been involved in response efforts there.
  
  CNBC - 11m

• Target joins Walmart in pulling back on DEI. But this big retailer and its shareholders are staying the course.

  Target said that it was ending its diversity, equity and inclusion goals as it tries to align itself with an “evolving external landscape.”
  
  MarketWatch - 12m
• 

  Why Age-Gating Social Media is a No-Brainer

  This policy has worked with alcohol and tobacco—let’s try it with social media.
  
  Inc. - 24m
• 

  The Secret to Explosive Business Growth: Create Raving Fans

  Your customers can do your sales work for you if you create the right conditions.
  
  Inc. - 29m
• 

  How to Lead Through Pressure

  Why you need partners in your C-suite to successfully run your company.
  
  Inc. - 33m