At a time when other central banks are cutting interest rates, the Reserve Bank of Australia enacted its first rate hike in three years. The central bank increased its cash rate target by 25 basis points to 3.85%, noting that Australia’s inflation “picked up...
The California FAIR Plan, the state-run fire insurance program for property owners who cannot secure private market insurance, has proposed hiking home insurance rates by an average of 35.8% starting next spring. The San Francisco Chronicle reports that if the request...
The likelihood of the Federal Reserve cutting rates is now in doubt with a central bank leader hinting a rate hike is likely to control inflation. In prepared remarks published today ahead of a speech before the Spring 2024 Meeting of the Shadow Open Market Committee,...
An analysis of approximately 4,000 banks by the consultancy Klaros Group has determined that 282 of these institutions carry high levels of commercial real estate exposure and large unrealized losses from the Federal Reserve’s rate hikes. According to a CNBC report,...
The central banks for the U.K. and European Union mirrored the example of their American counterparts and kept their respective interest rates unchanged. The Bank of England maintained its 5.25% rate, which is a 15-year high. Andrew Bailey, governor of the Bank of...
Bank of Canada Raises Rates for First Time Since 2023, Adding Pressure to H…
