Judo Bank now predicts the Reserve Bank will raise interest rates three times in 2024 to levels not seen in 16 years - increasing the average mortgage repayment by $300 a month.The bank's chief economic adviser, Warren Hogan, forecast the key interest rate will rise to 5.1 percent by Christmas, from a 12-year high of 4.35 percent. Rate hikes in August, September and November this year would see the Reserve Bank of Australia's key interest rate reach levels last seen in December 2008 during the...
The Judo Bank is now forecasting the Reserve Bank will raise interest rates three times in 2024. This would see borrowers paying the highest rates in almost 16 years.
Canada’s Minister of Transport, Pablo Rodriguez, has announced a substantial increase in the value of monetary penalties for violations under the Canada Shipping Act, 2001. The maximum penalty has been
Stock markets in the Asia-Pacific region traded mostly higher at the start of the week, while Chinese stocks dipped in the negative territory as investors digested the People's Bank of China's (PBoC)
The People's Bank of China (PBoC) announced on Monday it will keep its one-year loan prime rate (LPR) unchanged at 3.45%. Additionally, the bank's five-year loan prime rate remained at 3.95%,
ALBUQUERQUE, N.M. (KRQE) – The Albuqeurque-Bernalillo County Water Utility Authority is looking to raise water utility rates this summer. The last time water and sewer rates increase was in 2022. The proposal says the combined water and sewer bill for a typical single-family house using 5,000 gallons of water should go up a little more than []
For America’s biggest banks, deposit costs are exceeding interest income. That’s the first time that’s happened since the Federal Reserve began increasing rates two years ago, the Financial Times noted in a report Sunday (April 28) on the phenomenon. Among the lenders in question is Wells Fargo, which paid almost $594 million more in fees to depositors […]
The path for the Bank of England to cut interest rate cuts looks increasingly uncertain, particularly as the US Federal Reserve looks set to wait a while longer before loosening policy.
At its April 30 meeting, the Board of the Central Bank of Armenia decided to reduce the Refinancing Rate by 0.25 percentage points, setting it at 8.25%. The Lombard Repo Facility Rate was set at 9.75%. The Deposit Facility Rate was set at 6.75%.
The Australian Dollar surges driven by growing hawkish sentiment surrounding RBA, following the hot CPI data. Judo Bank chief economic adviser Warren Hogan predicts that the RBA might increase the cash rate three times in 2024. The safe-haven JPY loses ground due to the uncertainty surrounding the BoJ's rate outlook. AUD/JPY continues its winning streak for the sixth successive session on Monday, hovering around 104.50, a level not seen since April 2013. The persistent upward momentum of the...
President Biden and the IRS just can’t get enough of taxing Americans. The president is reportedly raising the capital gains rate to what some are calling the “highest formal federal capital gains,” with a budget proposal for fiscal year 2025, increasing the capital gain to 44.6%. “Capital gains is after you’ve already paid income tax,” Pat Gray says, disturbed. “Now, you’ve invested some of what you paid tax on, and you’ve gained some more money which they’re taxing, and now they want to...
The Bank of Japan has decided to keep its monetary policy framework unchanged, as widely expected. The central bank held its interest rate settings steady, while it dropped a reference to buying roughly the same amount of government bonds as previously. Haslinda Amin reports on Bloomberg Television.