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The Latest Breaking News from Interest Rates

‘Right policy choice’: RBA boss Philip Lowe defends COVID response as inflation anger grows

Reserve Bank governor Philip Lowe has defended his COVID response, saying that pinning interest rates to the floor in 2020 was the “right policy choice”.

The New Daily

Global Housing Boom Fades as Interest Rates Climb

Rising interest rates are slamming the brakes on a global housing boom that spread far beyond the U.S. during the pandemic, heaping extra pressure on central banks as they try to tame inflation without triggering deep downturns in their economies.

Bangkok Post

RBA confident households can withstand more interest rate rises

A senior RBA official is confident households can withstand more rate rises but flagged concerns over high debt levels.

The Canberra Times

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Unprecedented Numbers Of Residential Homebuyers Bailing On Offers

A combination of rising interest rates and picky buyers contributed to nearly 60,000 home-purchase agreements falling through in June. The total represents 14.9% of homes that went under contract that month and is the highest percentage of homebuyers bailing contracts on record, excluding March and April 2020 at the peak…

Benzinga

5 Strange But Highly Profitable Investment Property Ideas

Investment properties are much more than the commonly associated rental homes with white picket fences. For more conventional investment properties, consider working with a property management company to oversee the property in an organized manner.

Benzinga

5 Real Estate Stocks to Sell Short Due to Higher Interest Rates

The demand for real estate has taken a hit amid rising interest rates and a faster-than-expected rise in mortgage rates. Higher home prices and the lack of listings have also affected the industry. Given this backdrop, fundamentally weak real estate stocks Redfin Corp. (RDFN), WeWork (WE), Alset EHome International (AEI),…

StockNews.com

How rising interest rates could work for you with term deposits and savings

With the RBA and other central banks winding up cash rates, term deposit rates and even interest rates on savings accounts have started to rise.

The New Daily

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Egyptian Pound Hits Five-Year Low Against US Dollar

The Egyptian pound dropped to its lowest level in five and a half years, after falling 0.05% during Monday’s trade. Refinitiv data showed that the pound traded 18.91 to the dollar, down from 18.81 pounds on Sunday. The last time the currency reached that level was on January 24, 2017.…

Asharq Al-Awsat

Up to a third of mortgage holders could struggle to keep up with repayments, RBA says

Deputy reserve bank governor, Michele Bullock, says most Australians are ‘well placed’ to absorb the impact of rate rises

The Guardian - AU

Most Americans believe a recession on the horizon. Here’s how experts say to prepare for one

Seven in 10 U.S. consumers see an economic downturn ahead, assuming one hasn’t already started. But awareness doesn’t equal preparedness — two in three admit they aren’t ready for what they think is coming, according to a survey from MagnifyMoney, a personal finance website.

The Denver Post

Global economy to hit Thai tourism

The Tourism Authority of Thailand (TAT) forecasts revenue of 1.2-2.38 trillion baht next year, according to its new 2023 strategy, but this is likely to be challenged by global inflation and rising interest rates, with spending already taking a hit.

Bangkok Post

Mortgages set to rise with fears interest rates could top 2% to keep inflation under control

The warning comes from Michael Saunders a member of the Bank’s rate-setting Monetary Policy Committee, who claimed aggressive action was needed now

Chronicle Live

3 Potential Bankruptcy Stocks to Sell or Avoid Completely in 2022

The Federal Reserve’s tightening of monetary policy to combat rising inflationary pressure is putting companies with heavy cash burn and little cash on hand at an increased risk of bankruptcy as costs of borrowing funds are set to rise. So, potential bankruptcy candidates Peloton Interactive (PTON), Carvana (CVNA), and Freshpet…

StockNews.com

View from The Hill: Chalmers warns he'll deliver bad news in parliament's first week

The first week of the new parliament will contain some depressing news, with Treasurer Jim Chalmers on Monday softening up the community to expect a “confronting” statement on the economy.

The Conversation

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Liverpool Echo

Nationwide increases interest rate to 5% on savings account

People who choose to switch to Nationwide’s FlexDirect will also benefit from a switching incentive

The Guardian - UK

UK interest rates could top 2% in next year, says Bank of England’s Saunders

Monetary policy committee member says Bank must act to prevent high inflation becoming embedded

Evening Standard

Homeowners warned interest rates could soar over 2 per cent

Millions of homeowners have been put on notice of a higher than expected rise in interest rates over the next year as one of the Bank of England’s rate setters said they may have to be lifted to 2 per cent or higher to tame soaring inflation.

The Independent UK

Interest rates could hit 2% or higher in the next year, says Bank policymaker

Outgoing Monetary Policy Committee member Michael Saunders said increases ‘still have some way to go’ in order to get inflation under control.

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ABC News

Federal Treasurer Jim Chalmers warns on budget outlook, New Zealand inflation surge hints at even bigger interest rate rises

Fresh inflation figures out of New Zealand sound a warning that the worst of price and rate rises may still be yet to come, says Australia's federal Treasurer as he warns Australians to brace for next week's "confronting" budget update.

The Guardian - AU

Jim Chalmers warns of ‘confronting’ inflation and wages forecast in July economic update

Treasurer says rising interest rates will affect economic growth but Labor has plans to provide cost-of-living support

AAP

Chalmers says debt forecasts 'confronting'

Treasurer Jim Chalmers says the government debt forecast will be "confronting" for Australians as rising interest rates will affect the next budget update.

Birmingham Post

Lawsuit filed in High Court against TSB over mortgage interest rates

TSB says it will 'robustly defend' its position as lawyers call customers 'mortgage prisoners'

Bangkok Post

Housing developers' sentiment remains low in Q2

Despite improvement from the first quarter, sentiment among housing developers in Greater Bangkok in the second quarter remained low as inflation, higher interest rates and rising costs worried them.

AAP

Aust economy to slow: Deloitte

The country's economy will chart a "middle ground" between recovering from the pandemic and continued uncertainty and rising interest rates and inflation.

The Guardian - UK

The US’s selfish war on inflation will tip the world into recession

As the Fed raises interest rates, dollar-denominated loans become an unsustainable burden to states around the globe

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