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The Latest Breaking News from Interest Rates

Powell signals more pain to come with Fed sending rates higher

Federal Reserve Chair Jerome Powell vowed officials would crush inflation after they raised interest rates by 75 basis points for a third straight time and signaled even more aggressive hikes ahead than investors had expected.

Tribune News Service

Fed delivers third-straight big hike, sees more increases ahead

Federal Reserve officials raised interest rates by 75 basis points for the third consecutive time and forecast they would reach 4.6% in 2023, stepping up their fight to curb inflation that’s persisted near the highest levels since the 1980s.

Tribune News Service

10 Things That Didn't Exist Last Time Interest Rates Were This High

This afternoon, the FOMC is expected to announce a 75-basis point (BPS) rate hike, bringing federal fund rates to the 300-325 BPS range. This means interest rates will be between 3-3.25% for the first time since before the financial crisis in 2007-2008. More specifically, the Fed began cutting rates in September…

Benzinga

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Martin Lewis' urgent warning to those with credit card debt

The MoneySavingExpert advises on how to slash your interest rates to nothing ahead of credit card deals worsening if the Bank of England hikes interest rates as early as tomorrow

Wales Online

Martin Lewis issues urgent credit card warning ahead of interest rate rise

Martin Lewis has issued an urgent warning to everybody with a credit card ahead of a predicted rise in interest rates this week, explaining they could save thousands of pounds

Edinburgh Live

US Stocks Open Higher Ahead Of Fed Decision, Dow Jumps 175 Points

U.S. stocks traded higher this morning, with the Dow Jones gaining around 175 points on Wednesday. The Federal Reserve will announce its policy decision at 2:00 p.m. ET. The country’s central bank is widely expected to raise interest rates by 75 bps at the meeting. Fed Chairman Jerome Powell will…

Benzinga

5 REITs That Suffered The Worst Losses Last Week

REITs joined the rest of the stock market last week in the steady selling of shares as investors began to anticipate the effects of higher interest rates. These five sold off the most and are worth watching ahead of Wednesday’s Federal Open Market Committee meeting where rate hikes may be…

Benzinga

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Exactly how much more your mortgage could cost if interest rates are hiked TODAY

Money markets are anticipating that the Bank of England could raise interest rates to 2.5% tomorrow (September 22) in what would be the biggest rise in 33 years

Daily Mirror

The era of low interest rates is ending – its legacy is inequality and toxic politics

Over the past 14 years, older homeowners have continued to benefit – creating an unpleasant form of economic progress, says sociologist and political economist William Davies

The Guardian - UK

Martin Lewis issues credit card warning as he urges anyone with debt to take action

The financial guru has explained how credit card deals could worsen if the Bank of England increases interest rates for the seventh time in a row

Chronicle Live

Martin Lewis gives 'very little hope' prediction on interest rates as mortgages soar

Many people on interest-only mortgages have seen their bills skyrocket since rates went up in August

Wales Online

Egypt's Central Bank Expected to Raise Interest Rates by 100 Basis Points

Experts and economists agreed that the Central Bank of Egypt (CBE) will raise interest rates during its meeting on Thursday but did not agree on the rate hike. A Reuters poll forecasted that the central bank will raise its overnight deposit rate by 100 basis points (bps) as it tries…

Asharq Al-Awsat

Fed orders another super-sized interest rate hike as it battles stubborn inflation

The Federal Reserve raised interest rates by another 0.75 percentage points today, as it tries to control runaway prices. The central bank also signaled that additional rate hikes are likely.

WEKU

Martin Lewis issues urgent warning to everyone with credit card debt

Martin Lewis explained how credit card deals could worsen if the Bank of England hikes interest rates for the seventh time in-a-row - if you have debt already, there is a way to slash your interest rates to nothing

Daily Mirror

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The Independent UK

Asian shares decline ahead of Fed decision on interest rates

Asian shares have mostly declined as investors looked ahead to a widely expected interest rate hike by the U.S. Federal Reserve in its bid to squash the highest inflation in decades

Evening Standard

FTSE 100 Live: US interest rates in big jump as Fed hikes by 0.75%

US interest rates are going up today in another big bound in the Federal Reserve‘s aggressive fight against inflation.

The Guardian - US

Federal Reserve warns of ‘pain’ ahead as inflation surges

The US central bank is expected to announce a sharp rise in interest rates on Wednesday in an attempt to tackle the cost of living crisis

The Independent UK

Asian lender ADB cuts forecasts to reflect weakening outlook

The Asian Development Bank has downgraded its forecasts for growth in the region, citing the war in Ukraine, rising interest rates to combat decades-high inflation, and China's slowing economy

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The Conversation

Fed keeps focus on US economy as the world tilts toward a recession that it may be contributing to

The U.S. Federal Reserve holds inordinate sway over the world’s economies – yet it acts, in some ways, like they don’t really matter.

Reason

Expected Interest Rate Hike Will Add $2 Trillion to the Deficit

So much for the idea that low interest rates meant the government could borrow endlessly with no consequences.

Bangkok Post

The risk of competitive rate hikes

The world is facing the risk that major central banks will undertake competitive interest-rate hikes that may look desirable for their countries individually but could drag the world economy into an unnecessary recession.

Benzinga

Elon Musk Calls Out Fed For Too Much Latency In Rate Decisions Ahead Of Tuesday's Meeting: 'Problematic In A Fast-Changing World'

The U.S. Federal Open Market Committee starts a two-day monetary policy meeting on Tuesday. Ahead of it, Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk took to Twitter to comment on inflation and interest rates.

The Conversation

Three reasons why the US Federal Reserve Bank holds the world in its hands

Inflation is a global problem. At the end of August, it was 8.3% in the US and 9.1% in the Euro area. It is 20.3% in Nigeria, 25% in Malawi, and over 30% in Ethiopia and Ghana.

Axios

What’s behind the collapse of growth stocks

And what makes it a “growth stock,” anyway?

Asharq Al-Awsat

Erdogan Says Inflation Not 'Insurmountable Threat'

Turkish President Tayyip Erdogan said inflation is not an "insurmountable economic threat," adding it will begin to fall at the end of the year after it surged to more than 80% in August. Under Erdogan's economic program, Türkiye gradually cut interest rates by 500 basis points at the end of…

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