The Latest Breaking News from Interest Rates

The globe has, so far, been able to weather higher interest rates without the devastating consequences some anticipated.

The Bank of England has changed its mind about the prospects for the UK economy. Having been predicting a recession in 2023 as recently as February, its latest May report is expecting a soft landing from the bout of high inflation and a year of interest rate hikes.

Banks are attempting to keep up with the Fed—and compete with each other.

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.19%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.10%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.33%. U.S. stocks this morning gave up an early advance...

Yesterday, the Bank of England increased its base interest to 4.5% from 4.25% - which was the 12th rise since December 2021 when the rate was 0.1%

Just a small percentage rise can have a lasting knock-on effect, say experts

Financial companies are known to perform well in a rising interest rate environment as higher interest rates boost their profit margins. Given the current high-interest rate environment, it could be wise to buy fundamentally strong consumer financial stocks OneMain Holdings (OMF), World Acceptance (WRLD), and EZCORP (EZPW). Read more….

The Bank of England has hiked the interest rate to 4.5%

Turkey’s 2023 election is one of the most significant in its hundred-year history. After years of currency crashes, vanishing foreign currency reserves and surging inflation, rethinking economic policy will be a top priority for whoever is eventually sworn in. At the time of writing President Recep Tayyip Erdoğan is claiming…