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The Latest Breaking News from Interest Rates

Powell’s new guidance: Higher rates for longer to beat inflation

Federal Reserve Chair Jerome Powell signaled the U.S. central bank is likely to keep raising interest rates and leave them elevated for a while to stamp out inflation, and he pushed back against any idea that the Fed would soon reverse course.

Tribune News Service

Powell talks tough, warning rates are going to stay high for some time

Tribune News Service

Jerome Powell says Fed is resolved to fight inflation even if it brings economic pain

The Fed's chair comments signal the central bank is determined to continue raising interest rates to bring down inflation.

WEKU

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ASX closes higher as investors await US rate guidance, Wesfarmers hit by COVID-19 disruptions

The Australian share market closes higher as companies such as Wesfarmers report earnings results, and investors await guidance on interest rate hikes from the US central bank.

ABC News

Still booming: How Texas keeps attracting more workers and creating more jobs

Higher interest rates are slowing the real estate business, but the job market is proving to be more resilient, especially in Texas.

Tribune News Service

Market wrap: Crude oil price continues to climb, dragging petrol with it

Meanwhile, the ASX200 eased ahead as traders digested a busy week of earnings reports as corporate Australia negotiates higher costs and interest rates.

The New Daily

FTSE 100 Live: Interest rate expectations in focus at Jackson Hole, shares rally

A summit of central bankers gets underway today, with traders focused on the prospect of further big hikes in interest rates.

Evening Standard

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Asian stocks gain as global markets await Fed chair speech

Asian shares are trading higher as global markets wait for a highly anticipated speech from the U.S. Federal Reserve chair about interest rates at the end of the week

The Independent UK

ASX climbs on Qantas' improved results, but supermarket giants weigh on market

The Australian share market has risen for its second straight day, as some of the nation's biggest companies reported better-than-expected profit results.

ABC News

5 Discounted Mega-Cap Stocks Under $20

The stock market has experienced wild swings this year amid increased interest rates, ongoing geopolitical conflict, and sky-high inflation. Although a slight decline in inflation last month and strong corporate earnings have improved investors’ sentiments, market volatility is expected to persist. Thus, we think investing in under $20 mega-cap stocks…

StockNews.com

If interest rates are raised high enough to kill off inflation, how bad will the consequences be?

Cineworld has signalled its intention to declare bankruptcy. Like many companies in the UK and elsewhere, the London-based cinema chain took on massive amounts of debt to expand. It is expected to use the Chapter 11 process in the US to restructure its debt and other obligations.

The Conversation

Ballotpedia report provides first-ever comprehensive breakdown of U.S. school board members

Welcome to the Wednesday, August 24, Brew.

Ballotpedia

Pace of rate rises will be gradual - Bank of Thailand

The Bank of Thailand (BoT) will raise interest rates gradually to ensure a smooth take-off as it fights inflation, its governor said on Wednesday.

Bangkok Post

China property crisis: why the housing market is collapsing – and the risks to the wider economy

China has been trimming interest rates recently – in contrast to other major economies – as it tries to stem the economic effects of its zero-COVID policy and address a growing property crisis. The country’s traditionally strong housing market has been affected by a funding crisis that has seen development…

The Conversation

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The Guardian - UK

Bank of England may be forced to raise interest rates to 4% in 2023

City traders bet central bank will more than double cost of borrowing to combat soaring inflation

Asharq Al-Awsat

Erdogan’s Plan to Manage Turkey’s Economic Crisis Gets Summer Reprieve

A windfall of foreign funds arriving in Turkey and sustained interest in a state-backed deposit scheme have brought some relief for President Tayyip Erdogan's economic plan less than a year before tight elections. Erdogan's program stressing monetary stimulus, exports and economic growth sent inflation soaring when the central bank slashed…

Asharq Al-Awsat

Asian Markets Track Wall St Plunge on Growing Rate Fears

Asian markets fell again Tuesday and the dollar held gains as traders grow increasingly worried that the Federal Reserve will continue to ramp up interest rates to fight inflation. With the Jackson Hole symposium of central bankers and finance chiefs taking place this week, the focus is on what Fed…

Ballotpedia

Initiative to limit interest rates on debt from healthcare services certified for Arizona ballot

Arizonans will decide on a ballot initiative designed to limit interest rates on debt from healthcare services. The proposal is the first initiative certified for the ballot in Arizona for November, and the first of three initiatives with signatures under review to be certified. There are also eight legislative referrals…

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The Times of India

Smaller banks follow big peers, hike FD rates

MUMBAI: IDBI Bank has said it will offer a new 500-day deposit that offers 6.7% interest as part of the Amrit Mahotsav (75 years of independence) scheme. The bank has also hiked interest rates on term deposits across various tenors from August 22. The highest rate offered under its regular…

Tribune News Service

Impact of higher rates on couples with merged finances

Financial matters can be complicated to manage when you’re a couple. If you don’t come together to make decisions about how to handle your combined affairs, conflict can arise. With inflation and interest rates increasing, it’s even more important to make swift and positive choices.

Tribune News Service

Alexis Leondis: Resist the siren song of 40-year mortgage loans

Because of rising interest rates and higher home values, the monthly mortgage payment on a typical U.S. home is 62% higher than a year ago. So, it's only natural to be looking for a way to cut costs. But if you're borrowing money to buy a home and think the…

Benzinga

Real Estate Market Cycles - Where We're At Today And What's Next

Seasons, stages, phases and cycles. In biology, astronomy, time and many other aspects of life, things repeat. Real estate is no exception. Market analysts have shown that real estate markets pass through recurring cycles.

Benzinga

As Recession Stands On The Economic Doorstep, The Alternative Investment Spotlight Shines On Real Estate Crowdfunding

Whether in a full-tilt economic malaise or dancing on the outskirts, “recessionary times” are unfortunately a cyclical and natural part of the nation’s financial path. Watching or reading any reported news cycle today can lead to instant anxiety for investors, fueled by discussion of inflation, global instabilities, rising interest rates…

The Independent UK

How do interest rates affect inflation?

Borrowing costs already at their highest level in 13 years

ABC News

New homebuyers enticed into market now face perfect financial storm

New homebuyers are among some of the worst hit by a perfect storm of rising interest rates and cost of living, market analysis shows.

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