The Reserve Bank of Australia (RBA) announced its decision to increase its policy rate by 0.25 percentage points to 3.6%, marking the highest level in 11 years. This move is the 10th consecutive rate hike by the central bank, which aims to counter the rising inflation in the country. The RBA’s efforts to tighten monetary …
The Central Bank of Pakistan surprised many yesterday by raising the policy interest rate by 3% to 20%, the highest level since October 1996. This rate hike is higher than the expected increase of only 2%. The central bank stated that such a move was necessary to curb inflation after the Consumer Price Index (CPI) …
Bank of Pakistan Raises Interest Rate to 20% in Hopes of IMF Lending Read More »
Turkey’s central bank has announced a rate cut, reducing its policy rate by 0.5 percentage points to 8.5%, the lowest level in more than two years. The decision was in line with market expectations and aims to boost the country’s economic recovery following the devastating earthquake that hit on February 6. The earthquake, which impacted …
Bank of Turkey Cuts Interest Rate by 0.5% to 8.5%, Lowest in More than Two Years Read More »
The Bank of Korea (BOK) has decided to maintain its policy rate at 3.5% during its latest meeting. This marks the first time in seven consecutive meetings that the interest rate has not been raised. The decision comes as the BOK has grown increasingly concerned about the possibility of an economic slowdown as a result …
The Reserve Bank of New Zealand has increased its policy rate by 0.50% to 4.75% at a meeting held on Tuesday, Feb 22. This marks the highest level in more than 14 years, as the central bank seeks to bolster confidence that inflation numbers will fall within the mid-term target range. The move was expected …
Bank of New Zealand Increases Interest Rates by 0.50% as Anticipated Read More »
The National Bureau of Statistics in Canada reported on Tuesday (Feb. 21) that consumer prices in Canada rose at a slower pace in January. This has sent a signal to the Bank of Canada that it may hold interest rates at the current levels next month, despite the strong employment reports. The easing inflation indicates …
The Bank of Israel has announced an increase in interest rates to 0.5% in an attempt to curb inflation, which has risen above 5%. This is the eighth consecutive time the central bank has raised interest rates since April 2022, with this latest hike bringing the rate to its highest level since 2008. Inflation in …
Bank of Israel Raises Interest Rate to 0.5% to Curb Inflation Above 5% Read More »
As inflation concerns persist, the president of the St. Louis Federal Reserve, James Bullard, has proposed a 0.50% rate hike at the March meeting, which is higher than the 0.25% hike other Fed officials have suggested. During the February 1 meeting, Bullard expressed his belief that raising interest rates by 0.50% would be more effective …
St. Louis Fed Chair Proposes Interest Rate Hike of 0.50% in March to Curb Inflation Read More »
In a move to combat rising inflation rates, the Central Bank of the Philippines (BSP) has raised its policy rate by 0.50% to 6%, as expected. This decision was made at the BSP’s meeting on February 16 and is part of a continuing effort to control inflation, which recently hit its highest level in 14 …
Bank of the Philippines Hikes Policy Rate to 6% to Tackle High Inflation Read More »
The Bank of Indonesia (BI) has announced that it will keep its 7-day reverse repurchase rate at 5.75%, due to a recent slowdown in inflation and a stronger rupiah. The decision to hold the interest rate steady comes after the bank raised rates by a total of 2.25% in the past year to tackle rising …
Bank of Indonesia Holds Interest Rates Steady as Inflation Slows Read More »