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The Latest Breaking News from Inflation

Rising interest rates in US will hinder foreign economies

When the Federal Reserve raises interest rates — as it did Wednesday — the impact doesn’t stop with U.S. homebuyers paying more for mortgages or Main Street business owners facing costlier bank loans

The Independent UK

Bank of England set to hike interest rates to 13-year high

They are expected to rise from 0.75% to 1% today with another increase likely in August

Wales Online

Thai bonds may extend 10% losses as swaps price in rate hikes

Thai bonds, the biggest loser among Southeast Asian peers, are set to extend their slump as rising inflationary pressures and the risk of a hawkish pivot by the so-far accommodative Bank of Thailand (BoT) weigh on the debt.

Bangkok Post

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Morning Digest | PM Modi leaves for home after concluding three-nation European tour; COVID-19 under control but caution needed, says Centre, and more

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The Hindu

Sri Lankan tea pickers' dreams shattered by economic crisis

On a lush plantation in Sri Lanka, Arulappan Ideijody deftly plucks the tips of each tea bush, throwing them over her shoulder into an open basket on her back.

Reuters

Bitcoin, Ethereum, Dogecoin Rally After Fed Hikes Rates As Expected: Why This Analyst Thinks It's A 'Fakeout' Rather Than Breakout

Bitcoin traded higher and hovered just under the psychologically important $40,000 mark on Wednesday evening as the global cryptocurrency market cap shot up 5.5% to $1.8 trillion.

Benzinga

Fed orders biggest interest rate hike since 2000 to combat inflation

WASHINGTON — For the first time in 22 years, the Federal Reserve on Wednesday pushed up interest rates by a full half-percentage point — a significant escalation of its efforts to get control of troublingly high inflation.

Los Angeles Times

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Laden with ‘world-beating’ debt, Australian households are at increased risk as rates rise, expert says

Policies encouraging property investment have fuelled soaring debt ratio to create ‘big potential problem’, researcher warns

The Guardian - AU

More interest rate hikes are coming, and housing affordability is about to get crunched

Rock-bottom rates provided a buffer to soaring house prices, but that is over. Repaying a mortgage will be harder than ever

The Guardian - AU

The Fed is putting America's inflation problem on its shoulders

Chair Jerome Powell addressed the American public directly, and owned the current situation

Axios

The Dow rallies to its best day since 2020 after the Fed rules out larger rate hikes

Markets jumped after Fed Chair Jerome Powell said the central bank was not contemplating bigger rate hikes than the half-a-percentage-point increase it delivered on Wednesday.

WEKU

Penny Wong says annual aid to Solomon Islands is 28 per cent lower on average under the Coalition than it was under Labor. Is she correct?

Shadow Minister for Foreign Affairs Penny Wong says the Coalition has spent 28 per cent less on development assistance to the Solomon Islands than Labor did when last in government. Is that correct?

ABC News

Federal Reserve hikes official interest rates by 0.5 per cent, ASX rises, Dow Jones jumps 900 points

The US Federal Reserve has increased official interest rates by 0.5 per cent and flagged that more such rises are likely. Meanwhile, the Australian market has followed Wall Street higher.

ABC News

Stock bulls get reprieve as Powell signals a limit to austerity

Under no pressure to throw investors a bone, Jerome Powell nevertheless did, igniting the biggest stock market rally on the day of a Federal Reserve meeting in a decade.

Tribune News Service

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Los Angeles Times

Biden previews midterm offensive as he attacks 'extreme' MAGA Republicans in deficit speech

WASHINGTON — With an eye clearly on November's midterm elections, President Joe Biden on Wednesday sharpened his attack on Republicans as he sought to contrast his administration's policies with what he described as an "extreme" GOP agenda.

Tribune News Service

Sinclair Broadcast reports massive profit as it ‘deconsolidated’ local sports networks from its books

Sinclair Broadcast Group said it earned $2.59 billion — yes, with a B — in the first quarter as it “deconsolidated” its local sports segment from its financial statements.

Bangkok Post

Thai interest rate policy needs changing

On March 16, the Federal Open Market Committee (FOMC), the US equivalent of Thailand's Monetary Policy Committee, raised its policy interest rate (Fed Funds Rate) by 25 basis points from 0.00%-0.25% to 0.25%-0.50% to tame rising inflation.

Bangkok Post

Biden Officials Split on Easing China Tariffs to Slow Inflation

The Biden administration is split on whether to pare back tariffs on imports from China in an effort to cut consumer costs and reduce inflation, as the White House gives renewed consideration to a step that has divided officials.

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news in one place.

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France 24

US Federal Reserve hikes interest rates to tackle inflation

The US Federal Reserve has hiked interest rates by half a percentage point - double its usual rate - to tackle the country’s highest level of inflation in 40 years. Fed Chairman Jerome Powell said it was 'essential' to lower inflation and reduce hardship for American families. Thomas Costerg, Senior…

StockNews.com

3 Dividend Kings to Buy Right Now Without Hesitation

The stock market indexes drifted higher yesterday with investors looking ahead to the Federal Reserve's monetary policy tightening to control surging inflation. However, the Ukraine-Russia war, extended COVID-19 lockdowns in China, and the possibility of an economic slowdown, could keep the stock market under pressure in the near term. Amid…

The Independent UK

Minister labelled ‘out of touch’ for suggesting shoppers swap to value brands

Food campaigner Jack Monroe said Environment Secretary George Eustice was in ‘no position to tell other people to get cheaper biscuits’.

The Conversation

The Coalition is guaranteeing essential services and lower tax. We can't have both

In the midst of Labor’s campaign about the cost of living, the Coalition has zeroed in on one of those costs – taxes – and guaranteed to stop them rising. Its Lower Tax Guarantee promises:

The Independent UK

Martin Lewis condemns minister’s ‘patronising’ advice to buy value food brands amid cost-of-living crisis

‘Bulls***’ to suggest poor people don’t know to shop cheap, Martin Lewis says

Los Angeles Times

Fed makes biggest rate hike since 2000 to combat inflation

Liverpool Echo

Martin Lewis issues sweary response after minister's supermarket own brands advice

George Eustice told shoppers to switch to cheaper alternatives as calls grow for government to take direct action in cost of living crisis

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