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Interest rates

Today

Bank of England fails to ease Britainโ€™s market ructions

The UKโ€™s central bank said it wouldnโ€™t rush through an emergency interest-rate increase, prompting another bond and sterling sell-off.

  • 48 mins ago
  • Hans van Leeuwen

Yesterday

Forecasts for peak RBA rate keep rising

Morgan Stanley says the higher global rates outlook will keep the RBA hawkish, lifting its terminal rate forecast to 3.6 per cent.

  • Emma Rapaport

The big experiment on interest rates and taxes

Australia is not immune from the dramatic rise in interest rates globally, but Treasurer Jim Chalmers doesnโ€™t want to talk about taxes yet โ€“ either raising or cutting them.

  • Jennifer Hewett

This Month

Why investors hate the UK PMโ€™s biggest tax cuts in decades

The Bank of England is tapping the brake, Liz Truss is hitting the accelerator. Nobody knows which way the economy will go, and the markets want to get off.

  • Hans van Leeuwen

Barrenjoey predicts recession as dollar forecasts tumble

A โ€œrelatively short and shallowโ€ recession is now assumed by Barrenjoey, as strategists take the knife to Australian dollar forecasts following the latest Fed rate rise.

  • Vesna Poljak and Michael Read
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Fedโ€™s grip on interest rates will inflict more pain on yen, stocks

The Japanese yen got a reprieve after Japan intervened to support its currency for the first time since 1998, while pressure on the RBA intensified.

  • Cecile Lefort

Discretionary spending remains strong despite rate rises

Consumer spending remains strong despite rate rises, with trade increasing by more than 25 per cent compared with this time last year, according to Mastercard.

  • Gus McCubbing

Equities slow to get the Fedโ€™s message

The sharemarket appears to be struggling to synthesise key signals from data releases and messages from the US central bank.

  • Christopher Joye

Taming global inflation will require a two-year battle: Goldman

Price pressures will peak โ€œin the coming monthsโ€ though the fight to return the pace of inflation to central bank targets will take longer.

  • Timothy Moore

Bank of England lifts key rate by 0.5pc in split decision

The move to 2.25 per cent was backed by five of the nine-member Monetary Policy Committee, including governor Andrew Bailey.

  • Updated
  • Philip Aldrick and David Goodman

Japan intervenes in currency market to stop falls in yen

The surprise move came after the Bank of Japan confirmed its ultra-loose monetary policy and dovish guidance in a world of soaring rates.

  • Updated
  • Cecile Lefort

Three things Labor must do to fight inflation

For everyoneโ€™s sake, the Labor government needs to shore up the Reserve Bank in fighting this battle

  • The AFR View

Why Powell is finally using the R word

For the first time, Fed boss Jerome Powell has publicly entertained the prospect that the worldโ€™s largest economy could be headed for a recession.

  • Karen Maley

The ghost of CDOs lives on, credit markets get the shakes

The slicing and dicing of corporate debt is once again causing ripple effects in financial markets.

  • Jonathan Shapiro

Fed downgrades outlook as it lifts rates another 0.75pc

The Federal Reserve raised interest rates by 0.75 percentage point for a third straight time, lowered its economic forecast for the US and increased its expectations for higher inflation and unemployment.

  • Updated
  • Matthew Cranston
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Powell warns of US recession

The Fed chairman concedes that the need to defeat inflation is so urgent that US interest rates will keep rising at the expense of growth and jobs.

  • Cecile Lefort

Parsing the Fed: US rate outlooks revised

Strategists raced to lift higher their forecasts for US interest rates as Fed chairman Jerome Powell made clear the fight against inflation is far from over.

  • Timothy Moore

How many jobs must be cut before the Fed stops raising rates?

It seems a perverse idea that the US central bank would want to see fewer people employed, but currently there are too many Americans getting too big a pay rise, with only one person to fill every two jobs on offer.

  • Matthew Cranston

Mired in red ink: Turns out the RBAโ€™s money printing was no free lunch

The Reserve Bankโ€™s $37 billion loss shows there was a definite cost to its extraordinary monetary interventions during the pandemic. Just as well the RBA canโ€™t go bankrupt.

  • John Kehoe

Global economy โ€˜on a knife edgeโ€™, says RBA deputy governor

Reserve Bank deputy governor Michele Bullock sees worrying signs in Europe, the US and China.

  • Jonathan Shapiro