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The Latest Breaking News from Interest Rates

Fed rate hikes, recession fears and political backlash leave ESG investors at a crossroads

The Federal Reserve raised interest rates again on May 3, 2023, by a quarter point, making it the Fed’s 10th rate hike since March 2022 in an ongoing fight to tame inflation. These rate hikes have been reverberating through the economy, raising prospects of a recession amid heightened concerns about…

The Conversation

The Fed raises interest rates again in what could be its final attack on inflation

The Federal Reserve raised interest rates by a quarter percentage point Wednesday in an effort to curb persistent inflation. It was the tenth rate hike in 14 months, and possibly the last for a while.

WEKU

US Federal Reserve votes to increase interest rates to 16-year high

Rise in benchmark interest rate is 10th hike since March 2022, when the Fed started its rapid inflation-fighting campaign

The Guardian - US

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How a Fed increase could affect credit card debt, auto loans

If, as expected, the Federal Reserve raises interest rates yet again in its drive to cool inflation, much of America will be directly affected

The Independent UK

4 CEOs sound off on inflation, interest rates, and where the economy is headed

At the annual Milken Institute Global Conference, chief executives gave insight into what's to come.

Fortune

Lloyds beats forecasts with 46% profit rise after interest rates boost

Banking group expects the economy to fall by 0.6% in 2023 overall, slipping into a 'mild recession' over the first three quarters

Insider UK

Stock market today: Asian markets track Wall Street decline

Asian shares have declined, tracking losses on Wall Street ahead of a decision on interest rates by the Federal Reserve

The Independent UK

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The cost of living has reached a record high, businesses are struggling, and interest rates are rising. Is a recession coming?

A day after the Reserve Bank controversially raised interest rates, new data shows living costs are at an all-time high and businesses are contracting, prompting concerns a recession may be on the horizon.

ABC News

IMF says inflation to slow growth across Mideast this year

Economies across the Middle East and Central Asia will likely slow this year as persistently high inflation and rising interest rates bite into their post-pandemic gains

The Independent UK

Fed to raise interest rate again amid core inflation pressure

Expected hike in benchmark rate to a range of 5% to 5.25% could push US into recession

The Guardian - UK

Daniel Andrews blames Victoria’s huge pandemic debt on RBA interest rates advice

Victorian premier says interest rates are ‘smashing families’ despite 2020 advice to national cabinet

The Guardian - AU

‘Smashing families’: Premiers take aim at RBA rate rises

Three premiers have taken aim at the RBA over rapidly rising interest rates, following Tuesday's decision to impose another hike.

The New Daily

Rising turmoil is making Fed's rate decisions more perilous

Poised to raise interest rates Wednesday for a 10th time, Federal Reserve officials are facing two competing economic trends that could make their future rate decisions more difficult and treacherous

The Independent UK

Sorry, what? The latest interest rates rise suggests the RBA board is completely lost to logic

How could it come up with that decision given what it said in April and the new data we have seen since then?

The Guardian - AU

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France 24

Hollywood writers strike over pay in streaming era

Hollywood is at a loss for words, as thousands of film and television writers go on strike for the first time in 15 years. Members of the Writers' Guild of America voted to walk out after failing to reach a pay deal – they say they're paying the price for…

The New Daily

Michael Pascoe: You want more RBA independence, Treasurer? Cop this

“So you think the Reserve Bank board lacks ticker, Jim? You think the focus on getting inflation down needs to be sharpened? Well cop this.”

Barchart

Dollar Retreats on Signs of U.S. Economic Weakness

The dollar index (DXY00 ) on Tuesday fell by -0.22%. The dollar on Tuesday fell back from a 3-week high and posted moderate losses. Weaker-than-expected U.S. JOLTS job openings and factory orders reports knocked T-note yields lower and undercut the dollar. The dollar Tuesday initially rose on expectations for the...

Barchart

Bank Jitters and Debt Ceiling Weigh on Stocks

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -1.49%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -1.43%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.10%. U.S. stock are moderately lower on concern about the...

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The Independent UK

US job openings dip to 9.6 million, lowest since 2021

U.S. job openings fell in March to the lowest level in nearly two years, a sign that the American labor market is cooling in the face of higher interest rates

The New Daily

‘Deadly serious’: Why Philip Lowe thinks interest rates could rise again amid inflation fears

Interest rates will force another round of painful mortgage bill hikes to ensure inflation keeps falling from 30-year highs, Philip Lowe says.

ABC News

Reserve Bank's cash rate increase leaves households fearing further grocery price hikes

Australians are waiting to see how much more they will pay for essential goods and services like food after the Reserve Bank's decision to hike interest rates for the 11th time.

The New Daily

‘Whiplash’: Mortgage bills to rise again as Reserve Bank signals inflation battle isn’t over yet

The Reserve Bank has resumed heaping pain onto Australian home owners, raising interest rates in May for the eleventh time in a year.

The Guardian - AU

RBA interest rates: Reserve Bank increases official cash rate to 3.85% in shock decision

In a decision reached at its meeting today, Australia’s reserve bank will lift interest rates, causing further strain to borrowers

The New Daily

Reserve Bank hikes interest rates in May despite slowing inflation

The RBA has dashed hopes of another pause in interest rates, resuming hikes in May amid fears inflation - though slowing - is still too high.

Bangkok Post

SVB's collapse shows Fed failure to supervise banks

The aftershocks of the collapse of Silicon Valley Bank (SVB), while seemingly fading, are still reverberating around the world. Although Federal Reserve officials have taken pains to assure the public that the US banking system is sound, it is unclear why anyone should believe them. After all, Fed Chair Jerome…

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