interest

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Gold Closes $7.20 Higher as Investors Anticipate Fed’s Interest Rate Decision

Gold

In a positive development for the gold market, the gold contract closed higher for the second consecutive day on Tuesday, June 6. This surge was driven by expectations that the US Federal Reserve (Fed) would maintain its current interest rates at the upcoming meeting next week. Gold futures experienced a rise of $7.20, equivalent to …

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Reserve Bank of Australia Surprises with 0.25% Interest Rate Hike, Boosts Currency but Weighs on Stocks

News

Sydney, Australia – In a surprising move, the Reserve Bank of Australia (RBA) has raised its policy rate by 0.25% to 4.10%, marking the highest level in 11 years. This decision defied the expectations of analysts who anticipated the RBA would maintain the rate at 3.85%. Following the RBA’s interest rate hike, the Australian dollar …

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US Mortgage Applicants Decline as Loan Interest Rates Rebound

News

The Mortgage Bankers Association (MBA) recently released data indicating a notable decrease in the number of applicants for mortgage loans in response to the rebound in mortgage interest rates. The report revealed a 3.7% decline in overall mortgage loan applications during the previous week. Among the different types of mortgage applications, those seeking to refinance …

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Australian April Inflation Surges to 6.8%, Anticipating Central Bank Interest Rate Hike Next Month

News

The Australian Bureau of Statistics (ABS) has released data showing that the Consumer Price Index (CPI) has surpassed analysts’ expectations, primarily due to increasing fuel and housing prices. The rapid acceleration of inflation is anticipated to continue exerting pressure on the Reserve Bank of Australia (RBA). According to the ABS, the April CPI surged by …

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Bank of Turkey Maintains Interest Rate at 8.5% to Uphold Financial Stability

News

In a move that surprised analysts, the Central Bank of Turkey has opted to keep its policy rate unchanged at 8.5%, defying expectations for a rate hike aimed at curbing inflation. The decision to maintain interest rates at the current level is believed to align with the preferences of Turkish President Recep Tayyip Erdogan, who …

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Bank of Indonesia Maintains Interest Rates Amid Signs of Slowing Inflation

News

The Central Bank of Indonesia (BI) has announced its decision to keep the 7-day reverse repurchase rate, the country’s policy rate, unchanged at 5.75%. This marks the fourth consecutive meeting in which BI has opted to hold interest rates steady. The decision aligns with analysts’ expectations and comes as BI anticipates a continued deceleration in …

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Bank of Korea Holds Interest Rate at 3.5%, Lowers 2018 Economic Growth Forecast to 1.4%

News

The Bank of Korea (BOK) has announced its decision to keep the policy rate unchanged at 3.5% for the third consecutive time, as expected. The move comes amidst a slowdown in exports and a decline in inflation. This latest policy rate freeze marks the third time in a row, following the previous holds in February …

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US Mortgage Applicants Decrease as Loan Interest Rates Rebound

News

The Mortgage Bankers Association (MBA) has reported a 4.6% decline in the number of applicants for mortgage loans last week, attributing the decrease to the rebound in mortgage interest rates. Specifically, the number of individuals applying for refinance loans witnessed a 5% drop in the past week, plummeting by 44% year-over-year. Similarly, the number of …

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Central Bank of Nigeria Implements Interest Rate Hike to Tackle Soaring Inflation

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The Central Bank of Nigeria convened a monetary policy meeting, resulting in a decision to raise interest rates by 0.50% to 18.50% as part of an effort to combat the prevailing issue of high inflation in the country. Nigeria, the largest nation in Africa, has been grappling with the persistent challenge of soaring inflation. In …

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