University students raced to fork out more money to pay off their student debts to try to beat a deadline for a rise in Higher Education Contribution Scheme (HECS) interest. More than three million Australians have been slugged with a 7.1 percent rise in their HECS debts after indexation was applied on June 1. Education…
Capitol Report: Will Possible Arrest Help Trump in 2024 Election Bid? Fed Raises Interest Rates Again
March 22, 2023
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In another delay in New York’s probe into former President Donald Trump, the grand jury is on standby for a possible decision Thursday, with a clear divide in reactions between Republicans in the House and Senate. Legacy PAC founder Jared Craig joins us to assess the latest developments in the unprecedented case, and what this…
Poilievre Says Cost of Government Behind Inflation as Central Bank Raises Rate
Conservative Leader Pierre Poilievre said the cost of government is driving up the cost of living for Canadians, after the Bank of Canada announced today another interest rate hike, bringing its key rate up to 4.5 percent. “Sucker punch. That’s what the government hit Canadians with today by increasing interest rates after Trudeau and his government…
Fed Announces Smaller Half-Point Hike to Fight Inflation and Latest Summary of Economic Projections
December 15, 2022
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The Federal Reserve announced a smaller 0.50 percentage point rate hike on Dec. 13, as expected, as it begins to dial back its efforts to fight inflation. The news came as Fed policymakers held their two-day Dec. 13–14 Fed policy meeting. The central bank had previously issued four straight months of 0.75 percentage point hikes,…
Goldman Sachs Sees Significant Decline in US Inflation Next Year
November 15, 2022
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Economists at Goldman Sachs Group (GSG) are predicting that the present surge in U.S. inflation will significantly decline in 2023. A team led by Goldman Sachs’ chief economist, Jan Hatzius, said that this would be led by three key factors: an ease in the supply chain crisis, a drop in housing prices, and slower wage…
60 Percent of Canadians Worried About the Impact of Interest Rate Hikes: Survey
As Canada braces for another interest rate hike and a potential recession, a survey shows that 60 percent of Canadians are worried about the potential impacts interest rate hikes will have. MNP, one of the country’s largest insolvency firms, says the number of Canadians worried about interest rates is higher than ever since it started…
Home Prices Cooled Down at Fastest Pace in ‘History of the Index’
September 27, 2022
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U.S. home prices decelerated at a record pace in July, despite remaining elevated compared to a year back, according to S&P Dow Jones Indices. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, registered a 15.8 percent gain in July 2022 compared with July 2021, a Sept….
China’s Central Bank Slashes Key Rates as Economic Slump Deepens
August 15, 2022
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The People’s Bank of China (PBOC) surprised markets by cutting a key interest rate for the second time in 2022 as the country’s economy struggles to grow. The central bank reduced the rate on its one-year medium-term lending facility (MLF) loans by 10 basis points, from 2.85 to 2.75 percent. The move is aimed at…
Capitol Report (July 27): FED Hikes Rate to Slow Inflation; US, Russia Top Diplomats Set to Meet
July 27, 2022
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President Joe Biden is back in the Oval Office after quarantining for nearly a week. Now, on the top of his agenda is a conversation with China’s leader Xi Jinping. In a major move by the Federal Reserve, the central bank is scrambling to cool down white-hot inflation by hiking the interest rate again. With…
Behind China and Hong Kong’s Different Responses to US Interest Rate Hikes
July 3, 2022
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News analysis Amid soaring inflation, mainland China and Hong Kong central banks chose to respond in opposing ways to the U.S. Federal Reserve’s aggressive interest rate hikes, with China loosening its monetary policy, and Hong Kong raising interest rates. On June 15, the Fed raised the primary credit rate by 75 basis points, the largest increase…
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