The Reserve Bank board has plenty of reasons to hike interest rates further, and members will be gunning for a convincing cool-off in inflation numbers to keep the cash rate on hold longer term. The minutes from the April interest rate decision confirm it was a close race between another 25 basis point increase and…
4 Ways to Deal With High Interest Rates in Every Part of Your Business
By Daniel Altman Thanks to inflation and the Federal Reserve’s response, interest rates are now at their highest levels in 15 years. The nationwide average for 30-year mortgages is over 6 percent, credit card rates have gone north of 23 percent and even the federal government is paying close to 5 percent on an annual…
Bank of Canada Holds Key Policy Rate at 4.5 Percent, Not Forecasting Any Recession
OTTAWA—After the Bank of Canada announced a pause on interest rate hikes in January, it continued to stay true to its word on April 12 by holding its overnight rate target at 4.5 percent, which was widely expected. Forecasts for much weaker but still positive economic growth were shifted further into the future after a…
IMF Warns Risks to Global Financial Stability Have Risen ‘Rapidly’
The risks to global financial stability have risen “rapidly” since the International Monetary Fund’s (IMF) previous assessment in October, the organization wrote in a new report. In the latest Global Financial Stability report, IMF economists wrote that there is a “perilous combination of vulnerabilities” in financial markets as institutions failed to properly prepare for a…
Do Interest Rates Go Down in a Recession?
If you’re living in a time of rising inflation, you may hear about the Federal Reserve (or the Fed, for short) increasing interest rates. Inflation is essentially the devaluing of currency over time. If inflation happens too rapidly, people’s purchasing power decreases, and less money circulates into the economy. Key Takeaways A recession is when…
Bank Crisis Spawns Credit Crunch: Analysts
April 10, 2023
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In the wake of recent failures in some regional bank, Americans across the board are finding it harder to get credit. Because smaller banks are so critical to small-business and consumer lending, many analysts predict the fallout from the Fed’s campaign to tame inflation will have dire consequences for the economy. “Bank lending peaked in…
Market Betting on Fed Rate Cuts: Investment Strategist
April 10, 2023
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Investors are closely watching the consumer price index report this Wednesday for signs that inflation is slowing down. But Lance Roberts, chief investment strategist for RIA advisors, says recent core CPI data shows that inflation is still sticky. The federal reserve has been hiking interest rates to fight inflation. While it says it’s going to…
Jobs Print Near Expectations, but Economy Clearly Is Slowing
April 7, 2023
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Commentary New jobs created printed at 236,000 on April 7, according to the Establishment Survey, on par with market expectations of 230,000 jobs. The Household Survey printed lower, at 160,000. Net revisions were down 17,000 from January and February. Both the unemployment rate, at 3.5 percent, and the number of unemployed persons, at 5.8 million,…
How the Current Real Estate Market Can Affect Your Finances
The real estate market is in an interesting state right now. Home sales are slowing because of higher interest rates, but prices in some areas have yet to drop, demonstrating how much the current real estate market can affect your finances. Overall, the median existing-home sales price in January 2023 was up 1.3 percent from…
US Banks Lost Nearly $1 Trillion in Deposits Since Recent Peak
Small banks, in particular, are losing deposits to money-market funds at an alarming pace. The month of March 2023 witnessed the fastest withdrawal of funds from commercial banks in U.S. history. According to data released by the Federal Reserve, a staggering $360 billion was withdrawn from banks across the country in the last month alone. To…
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