The U.S. Federal Reserve is expected to hike the rate again at its meeting Nov 1-2. In Hong Kong, the aggregate balance of the Hong Kong banking system is fast reducing to the HK$100 billion (US$13 billion) safety margin, and the Hong Kong dollar interest rate has risen for 13 consecutive days. Some analysts say…
HK Banking System Balance Expected to Drop Below USD13 Billion Before Next Fed Meeting
October 30, 2022
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Asia & PacificChinaChina Business & EconomyChina Human RightsChinese RegimeFederal ReserveHK BusinessHong Konginterest raterate hikeWorld
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HK Banking System Balance Expected to Drop Below US$13 Billion Before Next Fed Meeting
October 30, 2022
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Asia & PacificChinaChina Business & EconomyChina Human RightsChinese RegimeFederal ReserveHK BusinessHong Konginterest raterate hikeWorld
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The U.S. Federal Reserve is expected to hike the rate again at its meeting Nov 1-2. In Hong Kong, the aggregate balance of the Hong Kong banking system is fast reducing to the HK$100 billion (US$13 billion) safety margin, and the Hong Kong dollar interest rate has risen for 13 consecutive days. Some analysts say…
Japan Remains the Only Major Economy to Maintain Negative Interest Rates
October 28, 2022
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Asia & PacificBank of JapanBusiness & MarketseconomyHaruhiko Kurodainflationinflation in japaninterest rateWorld
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The Bank of Japan (BoJ) has decided to keep its interest rates below zero, and thus is the only major economy to do so while other key central banks raise interest rates in a bid to curb inflation. Since 2016, Japan’s central bank has maintained its key interest rate at negative 0.1 percent. On Oct….
New Zealand Annual Inflation Eases to 7.2 Percent, Economists Warn of Higher Interest Rate Hikes
October 18, 2022
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Asia & PacificAustraliaBusiness & MarketsGrant Robertsoninflationinterest rateInternationalReserve Bank of New ZealandWorld
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New Zealand’s quarterly inflation rose to 2.2 percent in the three months to September, while the annual inflation rate edged down to 7.2 percent, according to Stats NZ. This follows a 1.7 percent quarterly inflation and 7.3 percent annual inflation over the 12 months to June—a 32-year high. Inflation during the quarter was mainly driven…
Most Consumers and Businesses Expect Recession; Views on Inflation Diverge: BoC
New surveys from the Bank of Canada show most consumers and businesses expect Canada to enter a recession, though their views on inflation in the short run are diverging. The third-quarter business outlook and consumer expectations surveys, released Monday, showed consumers have become more pessimistic about inflation in the short run, while business expectations for…
Mortgage Market on Red Alert
October 10, 2022
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Business & MarketsBusiness Columnistseconomyinterest rateMarketsmortgageOpinionreal estateUSUS NewsUS Real EstateViewpoints
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Commentary The financial markets are fragile right now. And there’s no better illustration of this than the multiple layers of issues plaguing the U.S. mortgage market. To U.S. consumers, the mortgage interest rate is probably the most direct translation of the Federal Reserve’s interest-rate moves. More than 50 million Americans have a mortgage, and a…
Millennial: You Nixed Your Home-buying Plan. What Now?
Millennials are in peak nesting mode. We want the outdoor space many apartments lack, or the room to grow that a starter house doesn’t offer. There’s just a not-so-small problem. The median existing home sales price of U.S. homes was $389,500 in August, according to the National Association of Realtors. That’s a 7.7 percent increase…
New Zealand Raises Official Cash Rate by 0.5 Percent to 3.5 Percent, Considered 0.75 Percent Hike
October 5, 2022
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Asia & PacificAustraliaBusiness & Marketsinflationinterest rateInternationalofficial cash rateReserve Bank of New ZealandWorld
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The Reserve Bank of New Zealand (RBNZ) made its fifth consecutive 50 basis point hike, raising the cash rate from to 3.5 percent. The monetary policy committee had considered raising the official cash rate (OCR) by 75 basis points to combat 32-year high inflation of 7.3 percent, before ultimately agreeing that a 50 basis point…
3 Steps to Lower the Cost of Your Debt
Does the thought of dealing with your debt make you want to go back to bed? More than 1 in 5 Americans (22 percent) are likely to put off creating a debt payoff plan, according to a June 2022 survey from NerdWallet conducted online by The Harris Poll. That’s a lot of procrastination, and it’s…
Interest Rates Will Go Higher
Commentary Financial markets sank when the Federal Reserve (Fed) added 0.75 percentage points to its benchmark federal funds rate on Sept. 21. Markets, having anticipated just this rate increase, responded less to it than to what Fed Chairman Jerome Powell promised for the future. He not only indicated additional rate hikes, but revealed how ready…
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