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The Latest Breaking News from Interest Rates

The world is surviving a stronger dollar

The globe has, so far, been able to weather higher interest rates without the devastating consequences some anticipated.

Axios

UK economy: why the Bank of England is now more upbeat than the IMF

The Bank of England has changed its mind about the prospects for the UK economy. Having been predicting a recession in 2023 as recently as February, its latest May report is expecting a soft landing from the bout of high inflation and a year of interest rate hikes.

The Conversation

3 Insurance Stocks Worth Buying in May

Insurers are among the major beneficiaries of a rising interest rate environment. With the Fed unlikely to cut rates anytime soon, the insurance industry will likely benefit. Hence, it could be wise to buy fundamentally strong insurance stocks, Everest Re Group (RE), Reinsurance Group of America (RGA), and International General…

StockNews.com

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Bank of England interest rate rise could be the last for a while

The UK’s new 4.5% base rate may seem high, but it’s actually quite low compared to the 1980s and 1990s

Wales Online

Soaring interest rates to cost UK mortgage holders £12bn in extra payments

Impact of Bank of England’s decision to hike rates to 4.5% will be felt mostly by young families, thinktank says

The Guardian - UK

US interest rates may stabilise for the year

Local economists say it is possible the Federal Reserve will hold interest rates steady for one year if US inflation and the labour market remain strong.

Bangkok Post

How much interest could you earn with a savings account? Here’s a look at today’s average rates

Banks are attempting to keep up with the Fed—and compete with each other.

Fortune

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Stocks Turn Lower as Long-Term Inflation Expectations Unexpectedly Climb

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.19%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.10%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.33%. U.S. stocks this morning gave up an early advance...

Barchart

Millions have seen their mortgage increase by £5,000 since interest rates began to rise

Yesterday, the Bank of England increased its base interest to 4.5% from 4.25% - which was the 12th rise since December 2021 when the rate was 0.1%

Daily Mirror

Mortgage rates: How 1% can hit your finances for the rest of your life

Just a small percentage rise can have a lasting knock-on effect, say experts

The Independent UK

3 Financial Stocks to Buy Hand Over Fist

Financial companies are known to perform well in a rising interest rate environment as higher interest rates boost their profit margins. Given the current high-interest rate environment, it could be wise to buy fundamentally strong consumer financial stocks OneMain Holdings (OMF), World Acceptance (WRLD), and EZCORP (EZPW). Read more….

StockNews.com

Why are interest rates going up – and what does it mean for mortgages?

The Bank of England has hiked the interest rate to 4.5%

The Independent UK

Erdoğan has wrecked Turkey's economy – so what next?

Turkey’s 2023 election is one of the most significant in its hundred-year history. After years of currency crashes, vanishing foreign currency reserves and surging inflation, rethinking economic policy will be a top priority for whoever is eventually sworn in. At the time of writing President Recep Tayyip Erdoğan is claiming…

The Conversation

UK mortgage predictions: where will rates go next?

Mortgage rates are rising again and products are being pulled from the market amid higher-than-expected inflation figures.

The Week

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The Independent UK

What the papers say – May 12

Latest rise in interest rates dominated newspaper front pages on Friday.

Bangkok Post

State banks increase interest rates to attract depositors

State banks are rushing to provide higher deposit rates to customers, including one scheme that offers up to 17%.

Daily Mirror

Bank boss warns financial misery is not over yet after another interest rate hike

Homeowners were warned things could get even worse as Andrew Bailey could not rule out further rises in a bid to bring down rampant inflation

Daily Mirror

Bank of England boss answers YOUR questions as interest rate is raised again

Andrew Bailey answers a series of questions as readers face an uncertain future amid financial turmoil

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Belfast Live

How Bank of England interest rates will impact Northern Irish borrowers

It is the 12th time that the Bank of England has raised interest rates since 2021

Evening Standard

OPINION - Interest rates rise for 12th successive time as inflation gets sticky

Today’s Monetary Policy Report from the Bank of England was a little like the weather: a bit of sunshine, some very dark clouds, but mostly everyone wondering when things will get better.

Fortune

Considering a CD for your savings? See where rates are headed.

The top CD rates are already paying 5% or more.

The Conversation

Bank of England interest rate rise: why this could be the last increase for a while

The Bank of England has increased its benchmark interest rate to 4.5% – the seventh rise since May 2022, when the base rate was just 1%. It is now at the highest level since 2008.

The Independent UK

US wholesale price data for April points to easing inflation pressures

Wholesale prices in the United States decelerated last month, the latest sign that inflationary pressures may be easing more than a year after the Federal Reserve unleashed an aggressive campaign of steadily higher interest rates

Fortune

TransUnion report shows that more Americans are leaning on credit amid high inflation

TransUnion’s Quarterly Credit Industry Insights Report (CIIR) shows that credit card balances remain near record highs at $917 billion as consumers turn to credit products to cover rising costs.

Insider UK

Bank of England lifts interest rates again as food prices stay higher for longer

Central bank economists also released a record upgrade to their economic growth expectations

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