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The Latest Breaking News from Interest Rates

A typical income equals mortgage stress as property prices rebound

Australians earning average incomes are now unable to afford houses in capital cities without immediately being thrown into mortgage stress.

The New Daily

Bleak outlook for housing supply crunch

Housing demand is expected to keep outstripping supply as migration levels pick up and high interest rates weigh on new construction.

AAP

Australian rental crisis will get worse as construction fails to keep pace with demand, report says

The national housing report, released on Monday, says rising interest rates have reduced supply of new homes

The Guardian - AU

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Harvard economist Jason Furman says the Fed shouldn’t flinch in its inflation fight—unless the ‘turmoil spreads within the financial system’

We haven’t learned anything “particularly reassuring in the last three and a half weeks” about inflation even amid the banking crisis, Furman told CNBC.

Fortune

Tova and Today the canaries in the economic mine

The radio workers were caught by the unexpected speed of the decline of NZ's consumer economy, since Christmas – and they won't be the last. Jonathan Milne reports.

Newsroom.co.nz

3 Stocks That'll Survive Any Recession

Market experts continue to fear that higher interest rates from the Federal Reserve and the potential for a credit crunch might tip the economy into a recession. Given this backdrop, quality stocks Oracle Corp. (ORCL), Vertex Pharmaceuticals (VRTX), and Humana (HUM) have solid fundamentals that could help them survive a…

StockNews.com

A key inflation gauge tracked by the Fed slowed in February

The Federal Reserve’s favored inflation gauge slowed sharply last month, an encouraging sign in the Fed’s yearlong effort to cool price pressures through steadily higher interest rates

The Independent UK

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Nepal PM names new finance minister amid economic woes

Nepal’s Prime Minister Pushpa Kamal Dahal on Friday named centrist politician and economic expert Prakash Sharan Mahat as finance minister, a presidential statement said, as the country tackles falling revenue collection and high interest rates.

Reuters

Lex in depth: how safe are America’s regional banks?

After the recent failures of Silicon Valley Bank and others, the FT has analysed more than 100 institutions to identify those that are the biggest cause for concern

Financial Times

How to Choose a Money Market Account

Here’s what to consider when you choose a money market account — an interest-bearing account that usually offers higher interest rates than traditional savings accounts.

Kiplinger

World Bank chief calls for dramatic hike in funding to help developing world

Outgoing boss David Malpass says more money needed to combat overlapping crises of war, pandemics and climate emergency

The Guardian - UK

US revises down last quarter's economic growth to 2.6% rate

The U.S. economy maintained its resilience from October through December despite rising interest rates, growing at a 2.6% annual pace, the government said Thursday in a slight downgrade from its previous estimate

The Independent UK

Egypt’s Central Bank Faces Multiple Crises, Limited Options

The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) will hold a periodic meeting on Thursday when options to contain successive shocks to the Egyptian economy remain limited before growing local and global crises. CBE will likely raise interest rates at today’s meeting to curb inflation, which…

Asharq Al-Awsat

Commentary: How the debt ceiling could prevent the next banking crisis

With the collapse of several banks in the last few weeks, many fear that their deposits aren’t safe and another financial crisis is looming. Worse, the fight in Washington over raising the debt ceiling threatens to strain the system still more. These two issues may seem worlds apart, but both…

Tribune News Service

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Financial Times

How rising interest rates are exposing bank weaknesses

Recent collapses in US and Europe highlight new threats to lenders and upend conventional wisdom

The New Daily

Lenders cut fixed rates as Reserve Bank decision looms

More than 10 lenders have cut fixed interest rates in the past 10 days, with ING moving to slash its offerings ahead of the Reserve Bank's next interest

The Independent UK

No economic growth forecast until next year as outlook ‘exceedingly uncertain’

The Scottish economy is forecast to shrink by 0.7% in 2023.

Miami Herald

Stubborn inflation, tight labor market quite challenging, Miami Fed exec says

Inflation needs to be brought under better control before the Federal Reserve starts reversing its monetary policy of boosting interest rates, a Miami-based regional executive with the Federal Reserve Bank of Atlanta said Tuesday, during a regional economic summit at Key Biscayne.

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StockNews.com

Calling All Quality Control: Get Rid of These 3 Biotech Stocks ASAP!

High-interest rates are expected to impact the growth of the biotech industry. Therefore, fundamentally weak biotech stocks Bionano Genomics (BNGO), VBI Vaccines (VBIV), and 180 Life Sciences (ATNF) might be best avoided now. Read on….

Fortune

The banking crisis was ‘not a systemic event,’ it only affected ‘dumb and greedy institutions,’ according to famed short seller Jim Chanos

Chanos pinned the blame for SVB's collapse on the bank's leadership, while arguing the bank's issues aren't widespread. But that doesn't mean stocks are safe, he warned.

The Conversation

SVB's newfangled failure fits a century-old pattern of bank runs, with a social media twist

The failure of Silicon Valley Bank on March 10, 2023, came as a shock to most Americans. Even people like myself, a scholar of the U.S. banking system who has worked at the Federal Reserve, didn’t expect SVB’s collapse.

The Week

Savings ISAs: different account types explained

Rising interest rates are making savings accounts more attractive, but there is a higher risk of the taxman taking a chunk of your hard-earned returns.

The Independent UK

Scottish economy will not return to growth until 2024, experts warn

But the EY Item Club Scotland forecast said interest rates could be cut later this year, providing a boost.

The New Daily

Mass exodus at tech firms after boom time

The notoriously boom and bust technology sector has been bleeding workers in 2023 as rising interest rates and falling demand hit hard.

Dublin Live

Housing market 'completely altered' as first quarter prices fall for the first time in decade

'The invasion of Ukraine and the associated shift in macroeconomic conditions, especially the rise in inflation and in interest rates, has completely altered conditions in the [housing] market'

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