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The Latest Breaking News from Interest Rates

The stock market faced a brutal sell-off last week on concerns over the increasing odds of a recession because of the aggressive tightening of monetary policy. The Fed raised interest rates by 75 basis points and expects a further 50 or 75 basis points increase in its July meeting. Amid…

StockNews.com

Bank policymaker calls for faster rate rises to prevent weak pound fuelling inflation

Catherine Mann says Bank of England’s MPC is in danger of falling behind rival central banks

The Guardian - UK

Recession not on horizon, says RBA's Lowe

Reserve Bank governor Philip Lowe says a recession in Australia is not on his horizon, but after the past two years nothing can ever be ruled out.

AAP

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Mortgage affordabilty tests: Bank of England abandons ‘stress test’ recommendation for mortgage approvals

The change could help some borrowers get loans but strict loan-to-income limits remain in place

Evening Standard

House price falls won't help affordability

Falling house prices won't help housing affordability because interest rates are on the rise, global credit agency Moody's Investors Service has warned.

AAP

GSB vows steady interest rates

The state-run Government Savings Bank (GSB) will try to maintain its interest rates for as long as possible amid a rising global trend in order to alleviate the burden on its borrowers, says bank president Vitai Ratanakorn.

Bangkok Post

Petrol back above $2 despite excise cut

Petrol prices are back at levels seen when former treasurer Josh Frydenberg halved fuel excise for six months in the March budget.

AAP

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Crypto billionaire says Fed is driving current downturn

FTX CEO Sam Bankman-Fried says that, until investors get used to higher interest rates, risk assets, including cryptocurrency, won't recover.

WEKU

Australian agricultural land tipped to hold its value amid economic downturn

With whispers of a recession, interest rate hikes, and inflation, many in agriculture believe rural land will hold its value through the tough economic times ahead.

ABC News

S&P 500 Set For Worst Week Since March 2020 As Fed Gets More Aggressive With Rate Hikes

The SPDR S&P 500 ETF Trust (NSYE: SPY) dropped sharply this week as investors priced in the Federal Reserve's more aggressive approach to raising interest rates.

Benzinga

Bank of England ready to take ‘forceful’ action on inflation, says chief economist

Central bank on high alert to raise interest rates more aggressively if needed, says Huw Pill

The Guardian - UK

Is a major recession unavoidable? Three economists give their views

We are in a double bind right now. Prices are going through the roof but all the signs suggest that the economy is weakening. The answer to higher prices is normally to raise interest rates, but this also induces people and firms to spend less money. The challenge for central…

The Conversation

Londoners face biggest mortgage hit after interest rate rise

London homeowners will be hardest hit by this week’s rise in interest rates, according to new research released on Friday.

Evening Standard

HSBC, Nationwide, Santander and more confirm when mortgages will go up

Those on a tracker rate mortgage will see their interest rates go up automatically - high street banks have started to confirm the dates when customers will be hit with higher costs

Glasgow Live

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The Conversation

The latest Bank of England rate rise won't do much to tackle inflation - here's what could work

There wasn’t much dramatic tension as markets waited for the Bank of England’s latest decision on interest rates. The fifth monthly quarter-point hike in a row was largely expected, taking the base rate to 1.25% in June 2022. All the announcement really revealed, in fact, was what a mess UK…

Nottingham Post

Barclays, Santander and other banks confirm when mortgage interest rates will go up

Millions of homeowners are set to be affected by the rise

Benzinga

US Stock Futures Higher Following Thursday's Sell-Off

Pre-open movers U.S. stock futures traded higher in early pre-market trade after the Dow Jones dipped more than 700 in the previous session. The Federal Reserve raised interest rates by 0.75% on Wednesday.

WEKU

Why cryptocurrencies have gone from the next hot thing to a full-on meltdown

Bitcoin and other cryptocurrencies are plunging. Here's what to know about a market that just a few months ago was being touted as the future of finance.

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Liverpool Echo

All you need to know about UK's interest rate hike, and what it means for you

Borrowers will see increases to their mortgages and could see hikes to overdraft and credit card rates

The Guardian - AU

Stock markets plunge again as flurry of interest rate hikes fuels recession fears

Investors wary as other central banks follow US Federal Reserve in raising borrowing costs

Daily Mirror

Brits warned UK 'may already be in recession' as inflation could climb to 11%

Experts have warned that Britain may be sliding into a recession as inflation continues to soar and the Bank of England is forced to raise interest rates for the fifth time

The Guardian - AU

Sydney house prices still 20% above pre-pandemic levels despite rising interest rates

Economists say while property prices could come down by up to 20%, affordability has ‘never been worse’

Tribune News Service

Crypto selloff resumes as post-Fed mood in global markets sours

The selloff in the digital-asset space accelerated Thursday, with losses in US equities also snowballing, a day after the Federal Reserve raised interest rates by the most in decades.

ABC News

ASX falls 2pc and Wall Street plunges amid recession fears, UK hikes interest rates

The ASX slumps to an 18 month low after yesterday's rally on Wall Street vanishes in a sea of red, with investors taking flight as both the UK and Switzerland raise official interest rates.

France 24

Bank of England follows Fed with rate hike

The Bank of England has followed the US Federal Reserve in raising interest rates. Both economies are battling the highest level of inflation in years and hope that tighter monetary policy will curb spiralling price rises. Also in the show: Australia's new government commits to more ambitious emissions reduction targets,…

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