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The Latest Breaking News from Interest Rates

Soaring interest rates contributed to recent bank failures – and there could be more to come

US bank regulators closed Silicon Valley Bank (SVB) on March 10 2023, after it suffered US$42 billion (£35 billion) of deposit withdrawals in a 24-hour period. This was the largest bank failure since the 2008 global financial crisis and was not supposed to happen again.

The Conversation

Bank of England boss urges firms to hold back price rises or risk higher rates

Andrew Bailey says interest rates will have to rise again unless inflation falls

The Guardian - UK

S&P Futures Plunge As Banking Sector Concerns Weigh On Sentiment

June S&P 500 futures (ESM23) are trending down -0.71% this morning after three major U.S. benchmark indices closed higher in a volatile trading session on Thursday as market participants weighed the future path of interest rates and digested U.S. Treasury Secretary Janet Yellen’s remarks on banks.

Barchart

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Commentary: The Fed just raised interest rates. Does that mean there is no banking crisis?

Do we have a banking crisis in the United States or don’t we?

Los Angeles Times

Interest rates will rise again if businesses raise prices – Bank of England boss

Governor states optimistic outlook that the UK can avoid a recession, after being on a 'knife edge' last month

Insider UK

Bank of England boss warns firms that raising prices will trigger higher interest rates

Bank governor Andrew Bailey speaks after increasing rates to highest level in 14 years

The Independent UK

Interest rates will rise again if businesses hike prices, Bank of England boss warns

His comments come after interest rates were lifted to 4.25% from 4%.

Evening Standard

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Fed risks throwing millions out of work

"The Fed is playing with fire," warns former Labor Secretary Robert Reich

Salon

Bank Of England Hikes Interest Rates To 4.25%: Pound Edges Higher, UK Stocks Hold Steady

The Bank of England raised interest rates by 25 basis points to 4.25% as the Pound edges higher and the UK Stock hold steady

Zenger

ASX closes lower after Afterpay owner Block sheds 18pc in Friday trade, Swiss National Bank says Credit Suisse crisis 'put to a halt'

The ASX finished trading lower on Friday, with Afterpay owner Block Inc dropping 18 per cent in the wake of a scathing report by short-seller Hindenburg that alleged the company "misled" investors. Look back at the day's market's and business news as it happened.

ABC News

The Bank of England has just raised interest rates. What does that mean for your mortgage?

Tens of thousands of borrowers will face repayments hundreds of pounds higher a year

The Independent UK

Mortgage misery as Bank of England hikes interest rates to a 14-year high

Double whammy as average council tax bill to pass £2,000 for the first time

The Independent UK

Bank of England raises interest rates to 4.25%

The UK’s central bank announces 11th consecutive interest rate increase as it focuses on fighting inflation.

Al Jazeera

OPINION - Interest rate rises are a blunt tool – but we haven’t thought of anything better

I would ban all open letters. Don’t write one and never put your name to someone else’s. Open letters are petitions that went to Oxbridge and goad you into asking which college they attended. But there is one example I hold in particularly low regard: the exchange of letters between…

Evening Standard

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The Conversation

Federal Reserve’s ‘soft landing’ goal has become bumpier with rate hike plan hit by bank turbulence

Federal Reserve policymakers have targeted a “soft landing” for the U.S. economy since beginning their effort a year ago to tame runaway inflation by hiking interest rates. That is, they believed they could do so without sending the U.S. into recession.

The Conversation

Why mortgage rates will not return to recent lows any time soon

The Bank of England base rate has increased steeply from 0.25% in January 2022 to 4.25% in March 2023. More than 4 million UK households now have significantly higher mortgage costs as a result, while also dealing with the impact of soaring prices for other items such as food and…

Kiplinger

As Fed Raises Rates 0.25%, Savings Rates Set to Rise, Too

The Federal Reserve raises rates again, this time by a quarter point, bringing the federal funds rate to a target range of 4.75% to 5%. As interest rates rise, savings rates for high-yield savings accounts usually do, too.

Fortune

How interest works on a savings account

Interest is how your money can grow in a savings account.

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The Times of India

How US Federal Reserve's decision to raise rates may impact India

NEW DELHI: The Federal Reserve raised interest rates by a quarter of a percentage point on Wednesday, but indicated it was on the verge of pausing further increases in borrowing costs amid recent turmoil in financial markets spurred by the collapse of two US banks.

Manchester Evening News

Expert warns Bank of England interest rate rise will affect more than a million homeowners

It's the 11th consecutive time that interest rates have been increased - and it's bad news for the property market

StockNews.com

3 High-Quality Stocks to Add to Your Watchlist Now

Despite the bank failures, the Fed will likely keep raising interest rates to bring inflation down. This is expected to keep the stock market under pressure. Amid this backdrop, it could be wise for investors to add high-quality stocks Visa (V), Amgen (AMGN), and Box (BOX) to their watchlist. Keep…

The Money Edit

Interest rates rise to 4.25% - what does it mean for your money?

The Bank of England has increased the base rate for the 11th time in a row. We look at whether rates could rise further this year, and what the latest hike means for your mortgage and savings

Evening Standard

OPINION - The Standard View: As the capital’s income tax bill hits £50bn, Londoners are feeling the pinch

Interest rates are an inherently blunt tool — they come with unfortunate and imprecise time lags. But they remain our best device for bringing inflation down, contributing to economic stability and ultimately prosperity.

Manchester Evening News

What the Bank of England's rise in interest rate means for you and your money

The UK's interest rate has been risen up for the 11 consecutive time in a bid to drive down inflation

Insider UK

Bank raises interest rates again, alongside upgraded economic forecast

The UK economy is expected to grow slightly between April and June, revising a previously forecasted drop

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