Inflation is here to stay, Asian business leaders warn

A woman shops at a Garcia supermarket in Quezon City, the Philippines, September 5, 2022. Iya Forbes | Bloomberg | Getty Images Consumer goods inflation will persist as the “new normal” as the global economy undergoes structural change, Asian business leaders warn. While rising interest rates could eventually temper asset prices, deglobalization and decarbonization could … Read more

Home buyers are canceling purchase contracts. What to know before you do

Steve Pfost | News day | Getty Images In an environment of higher interest rates and a slowing housing market, homebuyers continue to withdraw from purchase contracts at a high rate. About 64,000 home purchase contracts were canceled in August, according to a new report from Redfin. This equates to 15.2% of real estate contracts … Read more

Bank of England monitoring markets ‘very closely’ after pound falls

Analysts expect the Bank of England to raise interest rates more aggressively after Monday morning’s market turmoil. Sopa Pictures | Light flare | Getty Images LONDON — The Bank of England said on Monday it was watching developments in financial markets “very closely” after a dramatic morning of turmoil saw the pound sterling fall to … Read more

Philippine central bank hikes interest rates by 75 basis points

A woman walks past signage displayed at the Bangko Sentral ng Pilipinas headquarters in Manila, the Philippines, Thursday, Feb. 7, 2019. The Philippines’ central bank raised its benchmark interest rates by 75 basis points on Thursday in a move off-cycle surprise. , and signaled its willingness to take further policy measures to contain widening inflationary … Read more

U.S. stocks suffer another week of losses, Dow ends lowest since November 2020 as bond yields hammer equities after Fed rate hike

US stocks closed sharply lower on Friday, with the Dow Jones Industrial Average ending at its lowest closing value since November 2020. All three major benchmarks suffered another week of losses as bond yields rose to the following the Federal Reserve’s interest rate hike on Wednesday. For the week, the Dow Jones fell 4% while … Read more

Government bond yields soar as markets weigh threat of a recession

Hoxton/Sam Edwards | Getty Images Bond yields jumped this week after another big rate hike from the Federal Reserve, signaling a warning of market distress. On Friday, the policy-sensitive 2-year Treasury yield climbed to 4.266%, hitting a 15-year high, and the benchmark 10-year Treasury yield hit 3.829%, the highest in 11 years. The surge in … Read more

Ringgit marginally lower vs us dollar at opening

KUALA LUMPUR (Reuters) – The ringgit opened slightly lower against the U.S. dollar on Friday on lack of buying momentum as demand for the greenback remained strong due to its safe-haven status, officials said. a reseller. At 9 am, the local currency fell to 4.5670/5710 against the greenback against 4.5660/5695 at yesterday’s close. ActivTrades trader … Read more

‘The housing market may have to go through a correction’: Mortgage rates hit 6.29%, Freddie Mac says

Numbers: Mortgage rates in the United States continue to climb, adding hundreds of dollars in costs to potential homeowners. The increase in mortgage rates followed the Federal Reserve raising interest rates to deal with the worst inflation the economy has faced in 40 years. The 30-year fixed-rate mortgage averaged 6.29% as of September 15, according … Read more

Philippine peso sinks to new record low of P58.49 to $1

MANILA – The Philippine peso fell to a new all-time high against the U.S. dollar following the U.S. Federal Reserve’s latest major rate hike, according to data from the Philippine Bankers Association. The peso closed Thursday at P58.49 to the dollar, which was lower than Wednesday’s close of P58 to the dollar, according to BAP … Read more

Swiss central bank hikes interest rate as inflation pressures hit hard

Swiss National Bank (SNB), the central bank of Switzerland. FABRICE COFFRINI | AFP | Getty Images The Swiss National Bank raised its key rate on Thursday to 0.5%, a change that ends an era of negative rates in Europe. The 75 basis point rise follows a rise to -0.25% on June 16, which was the … Read more