Business News Asia
The Bank of England (BoE) raised interest rates by 0.50% to 4.0% as expected by the market, marking the 10th consecutive interest rate hike. The vote was 7-2 in favor of the increase. In its statement, the BoE indicated that…
The European Central Bank (ECB) raised interest rates by 0.50% as anticipated yesterday, marking the fifth consecutive interest rate increase. The deposit rate rose to 2.5% as a result of the interest rate increase. In addition, the ECB signaled more…
The Hong Kong Monetary Authority (HKMA) has raised its policy rate by 0.25% to 5.0% after the Federal Reserve raised its interest rate by 0.25% at its meeting yesterday. The Hong Kong dollar, which is tied to the US dollar,…
The Central Bank of Kenya has decided to hold its interest rates unchanged at 8.75% following its policy meeting yesterday. The statement from the bank indicated that it is monitoring the impact of its November 2022 interest rate hike on…
The Mortgage Bankers Association (MBA) reported a significant increase in the number of applicants for mortgage loans in the United States last week, following a drop in mortgage interest rates. According to the MBA, the number of applicants for mortgage…
The Bank of Thailand’s Monetary Policy Committee (MPC) announced a 0.25% increase in the key interest rate, raising it from 1.25% to 1.50%, effective immediately. The decision was made during the MPC’s latest meeting. The MPC stated that a gradual…
The Central Bank of Pakistan has raised the interest rate by 1% to 17%, the highest level since October 1997 and in line with analysts’ forecasts. The central bank stated that such interest rate hikes are aimed at curbing inflation,…
On Thursday (Jan. 19), the governor of the US Federal Reserve (Fed) stated that the Fed needs to keep interest rates high, despite signs that inflation is slowing. The governor emphasized that the Fed will not abandon its commitment to…
The People’s Bank of China (PBOC) has held the one-year lending prime rate (LPR) at 3.65% and the five-year LPR at 4.30%, in line with analysts’ predictions. The decision was made on the last working day before the Chinese New…
The Bank of Norway has announced that it has kept its policy rate unchanged at 2.75% during its meeting today, as analysts had expected. This follows the bank’s decision to raise interest rates by 0.25% last month. In addition to…
