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The Latest Breaking News from Interest Rates

Jim Chalmers’ first budget comes amid a darkening economic outlook. Here’s what could go wrong

The federal budget forecasts growth of 3.25% this year but hints at a slowing global economy with high inflation and interest rates

The Guardian - AU

Calls for UK banks windfall tax as HSBC reports profits of $700m more than predicted

Bank records quarterly profits above $3.2bn estimated as interest rates rise on back of higher borrowing costs

The Guardian - UK

FTSE 100 Live: Jeremy Hunt to stay as chancellor; HSBC profits fall

Big Tech shares were shaken last night after Google and YouTube parent company Alphabet posted weaker-than-expected revenues and earnings figures.

Evening Standard

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Vietnam raises key rates by 100 basis points as dong slumps

Vietnam’s central bank unexpectedly raised interest rates by another 1 percentage point for a second straight month to help ease pressure on a currency that has slumped to a record low.

Bangkok Post

Australia to reveal economic plan for deteriorating outlook

Australia’s new government will propose an economic plan to steer the nation through rising inflation and interest rates while reigning in debt

The Independent UK

Bay Area the only region in California where homes are selling for less than a year ago

Perhaps it was inevitable — what goes up, up, up, must come down eventually. Homes in the Bay Area are now selling for less than they were a year ago, the only part of California where that is true, as rising interest rates continue to throw cold water on the…

Tribune News Service

Higher Interest Rates Can Take a Long Time to Bring Down Inflation

The world's central banks face a nail-biting wait.

Bangkok Post

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Want To Earn High Interest From Savings? Here Are the Best Banks For CDs (Certificates Of Deposit)

These days, traditional savings accounts have not offered much to investors for some time. But now that the Federal Reserve is raising interest rates, big banks are raising rates as well.

Benzinga

Former Fed Vice Chairman Roger Ferguson Thinks The Markets Have It Wrong And Rate Hikes Will Continue Into 2023

Roger Ferguson, former vice chairman of the Federal Reserve and former CEO of TIAA, joined CNBC’s ‘Squawk Box’ earlier Monday morning to discuss what he expects to come from the Fed.

Benzinga

This Real Estate Brokerage Believes The Residential Housing Market Is In Peril and 'Winter Is Coming'

Rising home mortgage interest rates, a lack of seller inventory and still high home prices have thrown the residential real estate industry and investment strategies into a tailspin.

Benzinga

More than $100,000 wiped from Sydney property prices as rate hikes bite

Property prices are plunging fast as rising interest rates push down property prices, leaving the market mired in uncertainty.

The New Daily

ECB again Eyes Jumbo Rate Hike to 'Tame Inflation Beast'

The European Central Bank is expected to set aside recession worries and deliver another jumbo interest rate hike this week to cool inflation, as Russia's war on Ukraine sends energy prices soaring. Inflation in the 19-nation eurozone climbed to an all-time high of nearly 10 percent in September, five times…

Asharq Al-Awsat

Yen Falls To 32-Year Low Against The Dollar

It’s one of the many effects of the rise in interest rates in the United States: The Japanese yen has fallen to a 32-year low versus the dollar. The government in Tokyo will not allow its 10-year yield to rise above 0.25% — it’s a government finance policy mandate —…

Benzinga

SBI hikes term deposit rates by up to 0.80%

MUMBAI: The country's largest lender SBI on Friday upped its interest rates on term deposits by up to 0.80 per cent amid a 'war for deposits' in the banking system.

The Times of India

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Benzinga

Why REITs Are Being Sold And Avoided

Why REITs Are Being Sold And Avoided Interest rates, interest rate hikes and expectations about further interest rate hikes are creating problems for real estate investment trusts.

The Independent UK

Install new PM by Tuesday or risk higher interest rates, former cabinet secretary warns Tories

Liz Truss’s successor might not emerge for another week – but Gus O’Donnell warns that is too late

The Guardian - UK

Interest rates unlikely to rise above 5%, says Bank of England official

Ben Broadbent says increase already priced into markets would deliver ‘pretty material’ hit to economy

Tribune News Service

Global housing market pain has echoes of a crash 30 years ago

When Covid sent the UK economy into lockdown in 2020, the government jumped in to help the property market by cutting a tax on purchases. The temporary measure triggered a kind of mania among buyers, who responded by bidding up average prices by £31,000 ($35,000) — more than double the…

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Benzinga

As Prices Rise, Workers Look For Second Job Or Side Hustle: How Inflation Is Shifting Labor Market

In a time of “difficult choices, economic pain and higher interest rates,” the American workforce is exploring new alternatives in order to get by.

The Independent UK

Turkish central bank makes huge rate cut amid 83% inflation

Turkey’s central bank has slashed interest rates for the third month in a row, making its biggest drop this year despite sky-high inflation that is squeezing people’s finances

Evening Standard

FTSE 100 Live: Pound above $1.12; gilt yields stay under 4% as Liz Truss resigns

Retail sales volumes have fallen by more than expected as households cut back spending in the face of rising borrowing and energy costs.

Benzinga

Bond Decline Won't Stop Until Interest Rates Reverse — It Could Be Awhile

When interest rates go up, bonds go down. Investors’ expectation that more interest rate hikes are ahead also leads to the selling of fixed-income instruments.

The Conversation

Pensions: how yours may have been affected by recent market turmoil

The early signs are that the financial markets have been appeased by the government’s October 17 decision to reverse two-thirds of its September mini-budget tax cuts.

The Guardian - UK

English water firms’ big debts of concern as interest rates rise, says expert

Economist says sector’s financial stability is worrying as firms have borrowed heavily to pay dividends

Benzinga

A Recession May Just Prove To Be A Great Opportunity For Real Estate Investment

It seems like a tale of the past, but the U.S. saw record low mortgage rates in 2020 and 2021; concurrently, real estate investment soared. But the tried-and-true adage that real estate investment is a long-term proposition has never been more true today as mortgage interest rates steadily climb.

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