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The Latest Breaking News from Inflation

US Fed hikes interest rate 0.75 points, biggest increase since 1994

The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession.

France 24

Tough action on interest rates in the US. But how rattled is the US Federal Reserve?

Wall Street braces for rises in borrowing costs in July and September as 8.6% inflation spurs on central bank

The Guardian - UK

Fed hikes 75 basis points; Powell says 75 or 50 likely in July

The Federal Reserve raised interest rates by 75 basis points — the biggest increase since 1994 — and Chair Jerome Powell said officials could move by that much again next month or make a smaller half-point increase to get inflation under control.

Tribune News Service

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Fed hikes rates 75 basis points, intensifying inflation fight

Federal Reserve officials raised their main interest rate by three-quarters of a percentage point — the biggest increase since 1994 — and signaled they will keep hiking aggressively this year, resorting to drastic measures to restrain the rampant inflation they failed to forecast.

Tribune News Service

Join us LIVE as we explain what the Bank of England interest rate decision means for you

Mirror money experts Sam Barker and Graham Hiscott will be live on the Daily Mirror Facebook page from 1pm on Thursday to discuss how the latest Bank of England base rate decision affects you

Daily Mirror

Fed raises interest rates by largest margin since 1994

The central bank is ramping up its drive to tighten credit and slow growth with inflation having reached a four-decade high of 8.6 per cent

The Independent UK

Federal Reserve Raises Interest Rates by 0.75%, Hikes Inflation Estimates: What Investors Need To Know

The Federal Reserve raised its target fed funds rate by 0.75% on Wednesday to a new range of between 1.5% and 1.75%, its largest interest rate hike in 28 years.

Benzinga

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Federal Reserve announces biggest interest rate hike since 1994

Fed confirms 0.75 percentage-point increase as Americans across country hit hard by rising prices and shortages of key items

The Guardian - US

The Fed delivers biggest interest rate hike in decades to combat surging inflation

The Federal Reserve raised interest rates by three-quarters of a percentage point Wednesday in an effort to combat stubbornly high inflation. It's the biggest rate increase in 28 years.

WEKU

Fed steps up campaign against inflation with 0.75 point rate hike, steepest since 1994

The Fed has shifted toward a break-the-glass, emergency footing on inflation.

Axios

Workers and their wages are the collateral damage of the war on inflation

What a wonderful world we live in where a wage rise below inflation will apparently cause greater inflation!

The Guardian - AU

Egypt to Delay Electricity Price Hike by Six Months

Egypt's government will postpone a decision whether to increase electricity prices by six months starting in July, Prime Minister Mostafa Madbouly said on Wednesday. Egypt has experienced increasing price pressures in recent months and devalued its currency by 14% in March after facing economic headwinds from the war in Ukraine.…

Asharq Al-Awsat

How shoppers are shifting spending amid decades-high inflation

Consumers are cutting back on durable goods as energy and food costs cut into budgets.

Axios

Nigeria: Inflation reaches 11-month high of 17 percent

The continuing war in Ukraine is partly responsible for upward price pressures in Nigeria.

Al Jazeera

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Benzinga

Market Awaits Fed Rate Hike Decision: How Aggressive Will The FOMC Get Today?

The SPDR S&P 500 ETF Trust (NYSE: SPY) rebounded a bit from its early week downturn on Wednesday morning ahead of a critical Federal Open Market Committee interest rate decision at 2 p.m. ET.

StockNews.com

3 Top-Rated Gold Miners to Buy Now

Analysts believe that the persistent inflationary environment could keep demand for the yellow metal high as a safe-haven asset. Gold demand had increased substantially in the first quarter. Given the market turbulence, we think the gold mining stocks Centerra Gold (CGAU), B2Gold (BTG), and Jaguar Mining (JAGGF) might be solid…

The Conversation

UK inflation: how experts pick goods to track price changes and what it says about UK consumers

For the first time in several generations, inflation is a concern for people in the UK. The Consumer Price Index (CPI) rose by 9% in the year to April 2022, the highest 12-month inflation rate since reliable records began. At the same time, GDP growth has slowed to almost zero,…

StockNews.com

4 Must-Own Value Stocks to Buy in June

In the face of growing inflation and impending interest rate rises, fundamentally strong value stocks Computer Task Group (CTG), Genie Energy (GNE), Titan Machinery (TITN), and KT Corporation (KT) can be great picks now. Read on to learn more.

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Evening Standard

Bank of England poised for interest rate rise as it fights inflation

Decision on Thursday at 12pm

The Independent UK

Retail sales in May fall 0.3% amid surging inflation

Americans cut their spending unexpectedly in May compared with the month before, underscoring how surging inflation on daily necessities like gas is causing them to be more cautious about buying discretionary items

Los Angeles Times

Home sellers are cutting list prices as more buyers take pause: 'The market is not the same'

Home sellers are increasingly cutting their asking prices as buyers, constrained by higher mortgage rates and overall inflation, have become less willing to jump into the housing market at any cost.

The Independent UK

Biggest rate hike in years expected as Fed tackles inflation

The Federal Reserve is expected to announce its largest interest rate hike since 1994 — a bigger increase than it had previously signaled and a sign that the central bank is struggling to restrain stubbornly high inflation

Reuters

Analysis-Brazil likely to waive over $20 billion in tax revenue as Bolsonaro tries to spur economy

Tax cuts are likely to cost over 110 billion reais ($21.5 billion) in Brazilian tax revenue this year, as President Jair Bolsonaro tries to ease inflation and spur the economy in an election year despite economists' warnings of blowback in 2023.

The New Daily

Don’t panic: How to protect your super from global instability

Rising inflation and plunging share market values could leave you worried about your super, but experts say there is no need to panic.

The Guardian - UK

Markets brace for sharpest rise in US interest rates in almost 30 years

Federal Reserve expected to increase cost of borrowing by 0.75 percentage points to curb rising inflation

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