Bank of Canada expected to push interest rates into restrictive territory
The Bank of Canada is widely expected to deliver yet another oversized interest rate hike next week, lifting its policy rate into restrictive territory for the first time in two decades, but bets are split on whether or not a pause will follow.
Analysis: Democrats score big wins on climate, drugs with $430 billion U.S. Senate bill
Democrats scored a major policy victory when the U.S. Senate passed a $430 billion climate change, healthcare and tax bill that will help reduce the carbon emissions that drive climate change while also cutting drug costs for the elderly.
‘Recession is in the air’: German economy stagnates in 2nd quarter
The German economy stagnated in the second quarter, data showed on Friday, with the war in Ukraine, the pandemic and supply disruptions bringing Europe’s largest economy to the edge of a downturn.
ECB to join rate hike club with big move under discussion
The European Central Bank will raise interest rates for the first time in 11 years on Thursday with a bigger-than-flagged move seen as increasingly likely as policymakers fear losing control of runaway consumer price growth.
Global equity funds post third weekly outflow on slowdown fears
Global equity funds faced a third straight week of outflows in the week to July 12 on concerns over the prospect of further central bank interest rate hikes and the health of economies worldwide.
Mortgage News: Interest rates are on the rise!
Mortgage interest rates are rapidly rising, which is affecting loan demand, particularly refinances. Total mortgage application volume fell 8.1 % last week compared to the previous week, as per the Mortgage Bankers Association’s seasonally adjusted index. For 30-year fixed-rate mortgages with acceptable loan balances ($647,200 or less), the average contract interest rate jumped to 4.50 […]
Analysis: Climate goals take second place as EU states cut petrol prices
A growing number of European countries are cutting fuel taxes to lower surging pump petrol prices. The move brings respite to motorists but environmentalists say it flies in the face of commitments to curb global warming.
Bank of England raises rates to 0.75%, less sure about future moves
The Bank of England raised interest rates on Thursday for a third meeting running, as expected, but softened its language on the need for further increases from here.
Stocks rally, seizing on Ukraine de-escalation signs
World stocks crept higher on Wednesday for the second day in a row, while safe-haven assets such as government bonds and gold lost ground, despite Western scepticism over Russian claims of a troop pullback from Ukraine’s borders.
Omicron restrains U.S. manufacturing; supply bottlenecks slowly easing
A measure of U.S. manufacturing activity fell to a 14-month low in January amid an outbreak of COVID-19 cases, supporting the view that economic growth lost steam at the start of the year.
