A BMO Capital Markets senior economist says the Bank of Canada’s recent move to increase its key interest rate is setting up the housing market for an even deeper correction next year. Robert Kavcic says governor Tiff Macklem’s surprise one-percentage-point rate hike last week was like taking a hammer to the housing market. In a…
Tips for Boosting Your Credit Score
By Pat Curry From Bankrate.com If you’re thinking about buying a house or a car, your credit score is a very important number. The interest rate you’ll pay for the money you borrow will be determined, in large part, by this three-digit number that’s generated from the information in your credit report. Most lenders have carved-in-stone rules…
4 Big US Banks Raise Dividends After Stress Tests
June 29, 2022
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NEW YORK/WASHINGTON—Morgan Stanley, Goldman Sachs, Bank of America, and Wells Fargo hiked their dividends on Monday after the U.S. banks cleared their annual stress test exercise last week. The U.S. Federal Reserve said on Thursday the country’s largest lenders could easily weather a severe economic downturn, giving them a clean bill of health and paving…
A Soft Landing for the Australian Economy?
June 23, 2022
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AustraliaAustralian Cash rateAustralian economyAustralian inflationBusiness & Marketseconomyinflationinterest rateInternationalNet Zero by 2050OpinionViewpointsWorld
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Commentary The economic news of the last couple of weeks in Australia is bleak at best and demoralising at worst. The skyrocketing prices of energy, meat, vegetables, and petrol have led to big increases in the cost of living. Vegetables have increased by 6.1 percent, and beef and veal have increased by 8.1 percent. Petrol…
Inflation Has 72% of Canadian Parents Worried About Feeding Their Families: Poll
A survey on how Canadians are coping with rising inflation found that a vast majority of them, especially those with kids, are worried about putting food on the table. Conducted by Ipsos on behalf of Global News, the survey finds that 72 percent of Canadian parents are worried about their ability to feed their families,…
15% Drop in Average Canadian Home Price Expected by the End of 2023: Report
As the Bank of Canada raises interest rates to dampen inflation, the country’s average home price could fall 15 percent by December 2023, says a new real estate outlook report. Canada’s average home price rose by 50 percent over the past two years, from nearly $530,000 at the end of 2019 to just over $790,000 at…
US Rate Hike and China’s Slowing Economy
The U.S. interest rate hike will help curb inflation in the U.S., while drawing investment away from China. This will in turn drive down the yuan and increase the cost of foreign debt payments for the Chinese Communist Party (CCP) and Chinese corporations. In order to combat inflation, already at 8.5% in the U.S., the Federal…
Hong Kong Raises Interest Rate, its USD-Pegged System May Detonate Asset Bubble
The Hong Kong Monetary Authority (HKMA) recently announced an interest rate hike after the region’s foreign exchange reserves hit a two-year low. Stabilization of the HKD exchange rate would eat into many foreign exchange reserves, and create a pressing threat to the assets bubble, experts warned. HKMA’s move comes the day after the Federal Reserve…
Rising Cost of Living ‘Puts Brakes’ on Consumer Spending: UK Report
May 10, 2022
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The soaring cost of living has hit the confidence of British consumers and has “put the brakes” on consumer spending, the latest retail statistics show. Retail sales dipped in April after a sharp downturn in consumer confidence, according to a report by the BRC-KPMG retail sales monitor. Total sales fell by 0.3 percent in April,…
Sweden’s Central Bank Raises Interest Rate to Hit Inflation
April 29, 2022
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STOCKHOLM—Sweden’s central bank on Thursday raised a key interest rate from zero to 0.25 percent, citing the highest inflation level since the 1990s. Riksbanken said there had been “unusually large fluctuations in inflation in Sweden” and the rise last year “was largely due to rapid increases in energy prices.” The Consumer Price Index for March…
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