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Results for “Interest rates” (10)

Alina Hashmi Posted in World

Mexico cuts interest rates amid war fears driven by US-Israel conflict

Mexico’s central bank has cut its benchmark interest rate following a split vote, as uncertainty from the US-Israel war on Iran continues to rattle global markets. Minutes from the Bank of Mexico’s May meeting showed a 3-2 decision, with policymakers warning the conflict is pushing up inflation risks. All five members flagged the war as a source of upward pressure on prices, though most said the direct impact on Mexico remains limited. Read More…

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Alina Hashmi Posted in World

Bank of England raises interest rates

The Bank of England (BoE) raised interest rates for the 11th consecutive time on Thursday. The move followed a surprise rise in inflation which dashed hopes prices would continue to drop. Policymakers on the BoE's Monetary Policy Committee (MPC) voted seven to two to increase rates from 4 percent to 4.25 percent. Read More…

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Hafsa Mustafa Posted in World

US raises interest rates despite banking turmoil

The US central bank has raised interest rates again, despite fears that the move could add to financial turmoil after a string of bank failures. The Federal Reserve increased its key rate by 0.25 percentage points, calling the banking system "sound and resilient". But it also warned that fallout from the bank failures may hurt economic growth in the months ahead. Read More…

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Hafsa Mustafa Posted in World

US interest rates could go higher than expected

The head of the US central bank has warned that officials could raise interest rates farther and faster than previously expected in order to stabilise prices. US stocks fell and the dollar rose following the remarks, which come just a few weeks before the bank is due to make another rates announcement. Many analysts had been expecting another 0.25 percentage point increase. Read More…

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Alina Hashmi Posted in World

Sri Lanka’s central bank raises interest rates

Sri Lanka’s central bank on Friday decided to raise both deposit and lending interest rates. The decision was taken in anticipation of the finalization of a much-needed bailout facility from the IMF, the governor Nandalal Weerasinghe told reporters. Weerasinghe said that all actions sought by the IMF had been achieved and the facility should be forthcoming within this month. Read More…

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Alina Hashmi Posted in Business

Gold price declines by more than PKR 3000 per tola

Karachi: On Tuesday, Gold prices decreased as a rupee appreciation and the prospect that the central bank could raise interest rates after record high inflation kept investors on edge. The price of gold plummeted by Rs3,500 per tola and Rs3,001 per 10 grams to settle at Rs154,900 and Rs131,945 in the local market. The gold hit an all-time high of Rs162,500 per tola on July 28. Read More…

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Alina Hashmi Posted in Business

Germany makes billions from debt issuance

Berlin: It emerged on December 22 that the German government earned billions of euros from debt disbursement this year. It resulted due to negative interest rates on its securities, Finance Ministry State Secretary Florian Toncar said in a letter to a left-wing lawmaker. "Despite negative yields, German bonds are selling like hotcakes," said Goerke, a lawmaker told. He also added, "The federal government could have sold even more bonds without any problem." Read More…

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Sanniah Hassan Posted in Uncategorized

Turkish President refuses to raise interest rates

Recep Tayyip Erdogan, Turkey's president, has refused to raise interest rates. Turkish President Recep Tayyip Erdogan stated that he will follow the teachings of his religion, that interest rates will not be raised. Turkish currency, the Lira, is depreciating, and in these conditions, the Turkish President has been requested to increase the interest rates, to which he responded that interest rates will not be raised. Read More…

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