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 curb inflation, despite it slowing down in recent months. Inflation is currently at its highest …
Fed Governor: Interest Rates Must Remain High Despite Slowing Inflation Read More »
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 Year. Analysts had expected the PBOC to freeze the LPR rate ahead of the holiday, …
People’s Bank of China Keeps Interest Rates Steady Ahead of Chinese New Year Read More »
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 keeping rates unchanged, the bank signaled that it may raise rates in March. The bank …
The Bank of Norway Keeps Interest Rates as Expected Read More »
The Bank of Indonesia (BI) announced an increase in the 7-day reverse repurchase rate by 0.25% to 5.75% at its meeting on Wednesday (Jan 20). The move is aimed at maintaining a balance between reducing inflation and maintaining economic growth prospects, according to the bank. Governor of BI said, “This rate hike is to reduce …
Bank of Indonesia raises interest rate by 0.25% to 5.75% to combat inflation. Read More »
The Bank of Malaysia has decided to keep its policy rate unchanged at 2.75% at a meeting today, saying it is evaluating the impact of four consecutive rate hikes in 2022. The decision was held against analysts’ expectations of the Malaysian central bank raising interest rates by 0.25% to 3%. The central bank stated that …
Malaysia Keeps Interest Rate at 2.75%, Awaiting Impact of Four Consecutive Rate Hikes Read More »
Interesting developments in the gold market as bond yields and interest rates continue to rise. This is causing the opportunity cost of holding gold to increase, as gold is an asset without interest. Additionally, a stronger dollar resulting from rising interest rates is making gold, priced in dollars, more expensive for investors holding other currencies. …
Asian central banks are expected to achieve their goal of containing inflation by raising interest rates, allowing them to end their rate hike cycle after around 0.25-0.50% hikes this quarter. Analysts expect the central banks of Thailand, the Philippines, and Indonesia to raise interest rates by a total of 0.50% in the coming months before …
Bloomberg survey predicts the end of interest rate cycle for Asian banks in Q1/2023 Read More »
The Bank of Korea (BOK) raised its key interest rate by another 25 basis points to 3.50% at today’s meeting, the highest level since late 2008, with the BOK focusing on addressing rising inflation. Today’s announcement of a 0.25% rate hike was in line with most analysts’ expectations. Many analysts expect the BOK to end …
The Central Bank of Israel yesterday raised interest rates by 0.5% to 3.75%. Inflation rose to 5.3% in November, the highest level in 14 years, from 5.1% in October and above the government’s target of 1-3%. Israel’s central bank raised interest rates for the seventh consecutive month since April 2022. It signaled that the outlook …
Indonesia’s central bank today raised its key interest rate. This is the fifth rate hike since August in an effort to bring inflation back to target levels next year. Bank Indonesia (BI) raised its 7-day repo rate by 0.25% to 5.50%, in line with economists’ expectations. Inflation in Indonesia, Southeast Asia’s largest economy, rose to …
The Indonesian central bank raised interest rates by 0.25%. Read More »