Category: rates
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China cuts 1 and 5 year loan prime rates by 10 basis points each
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Early Monday FX rates – 22 July 2024 – US dollar little changed after Biden pulls out
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I’ve posted the very early interest rates here: Opening levels Monday morning, indicative exchange rates July 22, 2024, little changed from late Friday Now updating with Sunday’s big political news from the US, Biden has withdrawn from the presidential election: It’s finally Gopher. It’s still very early here in Asia,…
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Home loans defaults hit record Sh40bn on interest rates rise
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The value of non-performing mortgage loans in Kenya reached a record high of Sh40 billion in December 2023 on the back of high interest rates and tough economic conditions faced by borrowers. The value of non-performing loans (NPLs) by mortgage lenders rose by eight per cent or Sh3 billion last…
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ECB’s Villeroy: market expectations on rates seem rather reasonable
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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ECB’s Villeroy: market expectations on rates seem rather reasonable
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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ECB Held Rates Steady, Stressed Importance of Wage Growth in Next Decisions
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As expected, the European Central Bank left interest rates unchanged in its announcement this week and refrained from providing future guidance. European Central Bank President Lagarde and policymakers unanimously agreed to keep the deposit facility rate at 3.75% and the main refinancing operation rate at 4.25%. They indicated in their…
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Sterling needs more than higher UK rates to stay in the fast lane By Reuters
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(This story was corrected to change the company name to BNY from BNY Mellon (NYSE: BNY) in paragraph 7.) By Amanda Cooper and Dara Ranasinghe LONDON (Reuters) – Sterling hit a one-year high on Wednesday as investors sought higher returns as global interest rates began to fall, but strategists said…
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Financial Times: Donald Trump warns US Fed chair not to cut rates before the election
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Trump disagrees with a September Federal Reserve rate cut – wants rates higher for longer
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Trump is leading in the polls to win the November presidential election, and he has bad news for borrowers. He said in an interview with Bloomberg that he does not want the Federal Reserve to cut interest rates in September, as is the case now in the market. Trump wants…
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Bank of America Q2 profits drop as higher interest rates slow down lending
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NEW YORK (AFP) – Bank of America Corp reported a decline in second-quarter profit on Monday, as higher interest rates eroded the bank’s expenses, including its large consumer banking franchise. But like Goldman Sachs, Bank of America has seen a pickup in activity in its investment banking division, which has…
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Bank of America Q2 profits drop as higher interest rates slow down lending
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NEW YORK (AFP) – Bank of America Corp reported a decline in second-quarter profit on Monday, as higher interest rates eroded the bank’s expenses, including its large consumer banking franchise. But like Goldman Sachs, Bank of America has seen a pickup in activity in its investment banking division, which has…
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Like EM central banks, DM banks will need to keep rates higher for longer – BlackRock
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Vertigo 3D Some emerging market central banks have paused interest rate cuts due to inflation concerns, and policymakers in developed markets may also find themselves forced to stick with higher interest rates for longer, the BlackRock Investment Institute said. Brazil, Mexico and Poland are among the Emerging markets are the…
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Interest rates be damned: 3 reasons JPMorgan’s commercial banking clients are optimistic about the U.S. economy
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Federal Reserve interest rates, which influence global lending rates, are higher than they have been in 23 years. But that’s not stopping JPMorgan Chase clients from feeling optimistic. In a survey of more than 100 founders and senior business leaders at companies generating up to $2 billion each, more than…
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Hapag-Lloyd CEO sees solid shipping demand driving up freight rates By Reuters
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FRANKFURT (Reuters) – Strong demand for container shipping has pushed freight rates higher in the past two months, Hapag-Lloyd Chief Executive Rolf Habben Jansen said on a call with reporters on Wednesday. He said attacks on ships by Yemen-based Houthi militants had prompted shipping companies to avoid the Red Sea,…
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European Stocks Drop on Rates Outlook, France Poll: Markets Wrap
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(Bloomberg) — European stocks fell after policymakers signaled they needed more evidence that price pressures were under control, even as the latest data showed euro-area inflation slowing slightly. Most Read from Bloomberg The pan-European Stoxx 600 index fell about 0.5%, led by insurers and automakers. France’s CAC 40 lost most…
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RBA could hike rates in August, supporting AUDUSD- UBS By Investing.com
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UBS said it expects the Reserve Bank of Australia to raise interest rates in August after a series of inflation surprises, and that the Australian dollar (AUDUSD) is likely to benefit from such a scenario in the longer term. Australia’s inflation rate has unexpectedly risen for three straight months, raising…
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Property catastrophe reinsurance rates fall in July, report says By Reuters
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LONDON (Reuters) – Global property catastrophe reinsurance rates ranged from unchanged to “mid- to high-single-digit” declines in July after years of rising prices, reinsurance broker Guy Carpenter said on Monday. Insurance companies tend to renew their reinsurance contracts on specific renewal dates, including July 1. Reinsurance rates — insurance for…
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Path, destination of interest rates more important than timing of first cut: UBS By Investing.com
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Since the beginning of 2024, investors have been primarily interested in when the Federal Reserve will start cutting interest rates. Initially, March seemed like a good time to do this, but expectations then shifted to June after a wave of unfavorable economic data. Now, for the same reasons, the first…
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Why banks must seek Treasury’s nod before raising interest rates
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The Supreme Court has ruled that banks and financial institutions must seek the approval of the National Treasury before increasing interest rates on loans and facilities provided to customers. A five-judge bench of the Supreme Court headed by Chief Justice Martha Kom also held that Sections 44 and 52 of…
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HSBC Joins UK Banks in Cutting Mortgage Rates
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HSBC has announced cuts to its mortgage interest rates, joining Barclays and NatWest in a move that follows hints from the Bank of England about the possibility of a key interest rate cut over the summer. Barclays cut fixed-rate home loan costs for new deals on Tuesday, with HSBC’s cuts…