Swiss Central Bank Hikes Interest Rates by 50 Basis Points Despite Credit Suisse Turmoil
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Nigeria's central bank hikes interest rate to 24.75% as it battles sky-high inflation, currency crisis
The Central Bank of Nigeria on Tuesday hiked its key interest rate by 200 basis points, as Africa's largest economy looks to recover from a historic currency crisis and soaring inflation.CNBC - Business -
UBS makes Ermotti best-paid European bank boss
Swiss lender awards returning chief executive $15.9mn for steering integration of Credit SuisseFinancial Times - Business -
Janet Yellen warns China against clean energy dumping
US Treasury secretary tells Beijing its trade practices will distort markets and harm workersFinancial Times - Business - China -
Top Fed official says ‘no rush’ on rates after ‘disappointing’ data
Progress on taming price rises ‘has slowed and may have stalled’, according to Christopher WallerFinancial Times - Business - Federal Reserve -
$75,000 for a baby? South Korean businesses float incentives as demographic crisis looms
Companies and politicians try new strategies to encourage workers to start familiesFinancial Times - Business -
A turning point in central banking
Last week’s monetary policy moves mark a shift away from strict inflation targetingFinancial Times - World -
Bank of England Holds Interest Rates After U.K. Inflation Slows
Britain’s central bank held its key interest rate at the highest level in 16 years for the fifth straight meeting.The New York Times - Business - United Kingdom -
Poland's ruling coalition wants the central bank chief tried in court over hurting state interests
Lawmakers with Poland’s ruling pro-European Union coalition have launched a rare process to bring the central bank chief before a special court on allegations of acting against the country’s financial interestsABC News - World -
Poland's ruling coalition wants the central bank chief tried in court over hurting state interests
Yahoo News - World -
UBS CEO Ermotti to Steer Credit Suisse Integration
UBS said said Sergio Ermotti is set to stay as chief executive officer to see through the integration of Credit Suisse, and sought to address concerns about its size and potential needs for tighter regulation.The Wall Street Journal - World -
China’s property turmoil hits midsized bank Everbright
Regional lender’s shares fall after profits miss estimates due to investment losses and increase in cash set aside for bad debtsFinancial Times - World - China -
A U.K. court upheld the conviction of Tom Hayes, the alleged ringleader of a conspiracy among big banks and brokers to rig interest rates during the global financial crisis.
A U.K. court upheld the conviction of Tom Hayes, the alleged ringleader of a conspiracy among big banks and brokers to rig interest rates during the global financial crisis.The Wall Street Journal - World -
Swiss find Lebanon’s biggest bank guilty of serious money laundering breaches
Finma uncovers millions of francs in unexplained payments by Banque Audi to senior political figuresFinancial Times - Business -
Inflation Requires Caution for Brazil's Central Bank
Brazil’s central bank may have room to keep easing monetary policy gradually, but “core-services inflation underlying dynamics merit attention,” Goldman Sachs’ Alberto Ramos says.The Wall Street Journal - World - Inflation -
How do interest rates affect me?
Bank of England interest rates have an impact on the mortgage, loan and savings rates for millions of people.BBC News - Top stories -
An interesting disconnect in US rate-cut expectations
Economists and the Fed think similar things on what will happen to the US economy. So why is there a big gap in their expectations for interest rates?Financial Times - World -
Bankers jailed for interest rate rigging lose appeal
Tom Hayes and Carlo Palombo, convicted for manipulating a key interest rate, have had their appeals dismissed.BBC News - Top stories -
Mortgage demand stalls, even as interest rates moderate
The usually busy spring housing market is underway, but mortgage demand isn't moving.CNBC - Business - Mortgage -
This is your wallet on Fed rate hikes: 2 years, 4 charts
In four charts, here’s how much money the campaign to rein in inflation may have cost you since it began in March 2022.MarketWatch - Business - Federal Reserve -
BoE rate-setter warns against rushing to cut interest rates
Comments come after governor Andrew Bailey last week said interest rate cuts were ‘in play’Financial Times - World -
Fed Rate Outlook Looks Just Right for Banks
Banks look forward to relief on deposit costs but have no desire to go back to zero rates.The Wall Street Journal - World - Federal Reserve -
UBS chief's surprise return to the Swiss banking giant bagged him a $15.9 million paycheck
UBS CEO Sergio Ermotti earned 14.4 million Swiss francs ($15.9 million) in 2023 after his surprise return to the helm of the Swiss banking giant.CNBC - Business -
Extremism endangers Germany's prosperity, warns central bank chief
Yahoo News - World -
Polish central bank chief seeks truce with Tusk over ‘idiotic’ accusations
Adam Glapiński insists he did not abuse his powers in bid to keep Law and Justice party in powerFinancial Times - World -
S&P Global Cuts Paramount Credit Rating Into Junk Territory
The ratings company cut Paramount Global to BB-plus from BBB-minus, citing continuing cord cutting and elevated investments required to support the buildout of streaming services.The Wall Street Journal - World -
Visa, Mastercard and the largest U.S. credit-card issuing banks agreed to a settlement with merchants over the fees charged for swiping credit cards.
Visa, Mastercard and the largest U.S. credit-card issuing banks agreed to a settlement with merchants over the fees charged for swiping credit cards.The Wall Street Journal - World -
Cook says Fed has to move carefully before cutting interest rates
Federal Reserve Gov. Lisa Cook on Monday said the central bank needs to take a “careful approach” in deciding when to cut interest rates, but she gave few clues on the timing or size of any reductions.MarketWatch - Business - Federal Reserve -
4 times you should buy a home with interest rates high
Even with mortgage interest rates high, there are some times when it may make sense to buy. Here are four of them.CBS News - Top stories -
‘Lagging’ housing market, high interest rates drag on MillerKnoll’s sales
The furniture maker said that a “lagging” housing market, rising interest rates, and other headwinds contributed to lower sales.MarketWatch - Business -
Fed’s Waller says there’s ‘no rush’ to cut U.S. interest rates
Federal Reserve Gov. Chris Waller said high inflation readings and strong job gains in early 2024 reinforce his view that “there is no rush” to cut U.S. interest rates.MarketWatch - Business -
Dollar Seen Slightly Overvalued, Could Weaken Into Year-End
Bank of America Research expects EUR/USD to end the year higher at 1.15 and USD/JPY lower at 142, driven by dollar weakness.The Wall Street Journal - World -
Global inflation and interest rates tracker: see how your country compares
Inflationary pressures are beginning to wane but not all central banks have taken action yet. See how this affects youFinancial Times - World -
Commercial real estate is itching for a rebound two years after start of Fed rate hikes
Demand for office leases is picking up, but interest rates are still a wild card.MarketWatch - Business - Federal Reserve -
Long-Term JGBs Edge Lower Amid Worries Over BOJ Rate-Hike Pace
Long-term JGBs edged lower in the Tokyo session, weighed by concerns over the BOJ’s rate-hike pace after last week’s policy normalization.The Wall Street Journal - World -
The Medical Basis of the Mifepristone Ruling
Under the FDA’s relaxed protocols, women are at far greater risk of a deadly ectopic pregnancy.The Wall Street Journal - World -
Canada's Poor Productivity Has Reached Emergency Status, Senior Central Bank Official Says
Bank of Canada’s senior deputy governor, Carolyn Rogers, warns that a turnaround is urgently needed to protect the economy from future bouts of inflation.The Wall Street Journal - World -
Bank of England policymaker says markets pricing in too many rate cuts; Co-op Bank to cut 400 jobs – business live
Catherine Mann says market pricing is helping the central bank do its work in bringing borrowing rates down. The pound has risen since her comments, up 0.2% to $1.2661.. Bank of England policymaker Catherine Mann said financial markets are pricing ...The Guardian - World -
A UK financial trader dubbed the ringleader of an interest rate manipulation scandal loses an appeal
A British financial trader described as the ringleader in the manipulation of a key interest rate before and after the global financial crisis has lost his appeal to have his conviction quashedABC News - World - United Kingdom -
Having ridden the New York commercial-property boom together, NYCB and Meridian Capital are now in a changed world of higher interest rates and falling building valuations.
Having ridden the New York commercial-property boom together, NYCB and Meridian Capital are now in a changed world of higher interest rates and falling building valuations.The Wall Street Journal - World - New York -
Why Treasury Yields Are Rising Despite Rate-Cut Expectations
The yield on the government’s 10-year note has climbed since the start of the year, propping up mortgage rates.The Wall Street Journal - World