NEW YORK—Wells Fargo & Co. and JPMorgan Chase & Co. reported a rise in net interest income in the first quarter, as the Federal Reserve’s rate hikes help their bread-and-butter business—taking deposits and lending. The Fed raised rates by a quarter point in March to a 0.25 percent-0.5 percent range, and has flagged another half-point…
Bank of Canada Hikes Key Interest Rate
OTTAWA—The Bank of Canada raised its key interest rate target for the first time since slashing its benchmark rate to its rock-bottom level at the start of the COVID-19 pandemic. The central bank increased its key rate by a quarter of a percentage point to 0.5 percent in a bid to help fight inflation which…
Global Stocks Higher Amid Interest Rate Uncertainty
BEIJING—Global stock markets were mostly higher Tuesday as investors watched for signs of whether central banks will try to cool inflation by speeding up the withdrawal of economic stimulus that is boosting share prices. London and Frankfurt opened higher. Shanghai and Tokyo advanced. Hong Kong declined. Wall Street futures were higher after the benchmark S&P…
Higher Interest Rates May Cause Japan’s Debt-Servicing to Top 30 Trillion Yen in FY2025: Draft
January 19, 2022
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TOKYO—Japan’s debt servicing costs would exceed 30 trillion yen ($261.55 billion) for the first time ever in fiscal 2025 if interest rates rise by 1 percent more than expected, a draft of the Ministry of Finance’s (MOF) estimates, due later this month, showed. The MOF, in its annual estimates over a five-year period, projected debt…
Deep Dive (Dec. 16): Sen. Graham on Biden’s Build Back Better Bill
Americans will likely see rate hikes in the new year as the Federal Reserve fights against inflation. The Federal Open Market Committee (FOMC) said in a statement, “In light of inflation developments and the further improvement in the labor market, the Committee decided to reduce the monthly pace of its net asset purchases by $20…
US to Start Raising Interest Rates From September 2022: JP Morgan
LONDON—The U.S. Federal Reserve will start raising interest rates from September 2022, economists at the country’s biggest bank said in a 2022 outlook note. JPMorgan expects the central bank to raise rates by 0.25 percent from the third quarter of next year and keep raising them by 25 basis points every quarter “at least until…
Inflation Outlook Key for Timing of Polish Interest Rate Rise: Central Banker Says
WARSAW—Poland’s November inflation projection may be crucial for the country’s central bank in deciding whether interest rates rise again this year, Eryk Lon, one of the most dovish members of the Monetary Policy Council (MPC), said. In an unexpected move, the bank raised its benchmark interest rate in October by 40 basis points to 0.5…
Nasdaq Short Interest Down 0.07 Percent in Mid-September
September 25, 2021
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Short interest on the Nasdaq fell 0.07 percent in the first two weeks of September, the exchange said on Friday. As of Sept. 15, short interest fell to about 11.014 billion shares, from 11.023 billion shares as of Aug. 31. Investors who sell securities “short” borrow shares and then sell them, on expectations the stock…
Brazil Raises Interest Rates, Signals 3rd Big Hike Next Month
BRASILIA—Brazil’s central bank on Wednesday raised interest rates by 100 basis points and flagged a third straight hike of that size in October as it battles surging inflation with the world’s most aggressive monetary tightening. The bank’s rate-setting committee, known as Copom, decided unanimously to raise its benchmark rate to 6.25 percent as forecast by…
Shares Gain as Evergrande Says It Will Make Interest Payment
September 22, 2021
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World shares and U.S. futures advanced Wednesday after Chinese developer Evergrande said it intends to make an interest payment on its debt that is due Thursday. Shares rose in Paris, Frankfurt and Shanghai but fell in Tokyo. Markets have been rattled by Evergrande’s struggle to meet debt payments and uncertainty over what if anything the…
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