The Latest Breaking News from Interest Rates

In today’s newsletter: The Guardian’s special correspondent Heather Stewart talks us through the best, worst and most likely result of another chaotic day in the money markets

In the US they call it ‘starving the beast’ – cut taxes and, as revenue decreases, you create irresistible pressure for austerity, says Adam Tooze, an economic historian at Columbia University

The Australian share market regains some ground, as the Dow Jones index enters a bear market, while the Bank of England says it will not hesitate to raise interest rates. The Australian dollar falls to the lowest since May 2020.

The SPDR S&P Bank ETF (NYSE: KBE) is down 18.6% year-to-date, only slightly outperforming the S&P 500 as a whole. Rising interest rates are typically good news for bank earnings, but the weakness in bank stocks as of late has been driven by concerns over a potential slowdown in the…

Analysts want Bank of England to increase interest rates to ‘restore credibility’ to UK economy

The governor of the South African Reserve Bank recently announced an increase in the lending rate by 75 basis points. This means the repo rate (the rate at which the central bank lends money to commercial banks) will increase from 5.5% to 6.25% and the prime rate (the rate commercial…

The new Bank of England base rate of 2.25% is the highest level since November 2008.

The Federal Reserve is making headlines by raising interest rates at the fastest pace in a single year since the 1980s, concerning investors and consumers alike with fears the central bank could go too far, too fast.

Analysts expect Bank of England to convene meeting to raise rates with further increase in November

Despite a slight uptick, the unemployment rate in Australia is still at record lows. But for many, one job simply isn't enough to keep up with the rising cost of living.

Federal Reserve Bank of Atlanta President Raphael Bostic said the strong U.S. job market suggests the economy could slow down in “a relatively orderly way” as the central bank bears down on inflation by raising interest rates.