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Interest Rates

New Zealand Plunges into Recession, Prompting Calls for Deeper Rate Cuts

New Zealand's economy has fallen into recession, contracting far more sharply than anticipated in the third quarter, according to data released on Thursday by Stats NZ, as reported by Reuters. This dire outcome, exceeding even the Reserve Bank of New Zealand's (RBNZ) own pessimistic forecasts, is

China's Central Bank Steps Up Yuan Support After Fed Move

China's central bank has stepped in to support the yuan after the US Federal Reserve's latest interest rate decision sent the dollar soaring, reports Nikkei Asia. The People's Bank of China (PBOC) set the yuan's reference rate at 7.1911 per dollar

Bank of England Expected to Keep Interest Rates Steady

The Bank of England is widely anticipated to maintain interest rates at their current level of 4.75% at a meeting later today, reports the BBC. This decision comes despite inflation rising for the second consecutive month to 2.6% in the year to November, exceeding the Bank's

Bank of Japan Stands Pat, Keeping Rates Unchanged

The Bank of Japan (BOJ) on Thursday opted to keep its accommodative monetary policy unchanged, maintaining its key policy rate at 0.25% for the third consecutive meeting, reports Nikkei Asia. The decision, while expected, comes as the Japanese economy shows uneven performance and consumer inflation signals a potential cooling

Fed Cuts Rates But Signals Caution as Trump Uncertainty Looms

The Federal Reserve cut interest rates on Wednesday, as widely expected, but Chair Jerome Powell indicated that further reductions in borrowing costs will be more cautious going forward, signaling a new era of uncertainty under the incoming Trump administration, reports Reuters. Powell's emphasis on a more measured approach

Indonesia and Thailand to Keep Rates Steady This Week: Bloomberg

The central banks of Indonesia and Thailand, Southeast Asia's two largest economies, are expected to maintain current interest rates this week, reports Bloomberg. The decisions come as Indonesia grapples with a weakening rupiah and Thailand's central bank prioritizes economic growth. In Indonesia, where the rupiah fell

Russia's Central Bank Faces Inflation Battle as Rate Hike Looms

Russia's central bank is expected to implement a significant interest rate hike this week as inflation continues to plague the war-torn economy, reports CNBC. The move comes as the consumer price index (CPI) reached 8.9% in November, up from 8.5% in October, driven primarily by rising

BOJ's Rate Hike Plans Leave Market in Limbo

The Bank of Japan's (BOJ) upcoming policy meeting on Wednesday and Thursday has the market in a state of confusion, with investors struggling to decipher Governor Kazuo Ueda's intentions regarding future rate hikes, reports Nikkei Asia. Just two weeks ago, nearly 70% of market players anticipated

BOE's Cautious Approach to Rate Cuts Ends Year of Unfulfilled Expectations

The Bank of England (BOE) is set to conclude 2024 with interest rates a full percentage point higher than initially predicted by market analysts, according to a reported published by Bloomberg. While the central bank is expected to keep rates unchanged at its meeting on Thursday, marking the end of

ECB Cuts Rates for Fourth Time This Year

The European Central Bank (ECB) cut interest rates for the fourth time in 2024, signaling continued easing ahead as inflation moderates and the Eurozone economy remains sluggish. The central bank reduced the deposit rate, which influences borrowing costs across the bloc, to 3.0% from 3.25%. This rate, which