Interest Rates Wordwide

[divs4ever]

“Our previous increases in interest rates are working, but let me be clear that inflation is still not where it needs to be, and there is absolutely no room for complacency. We’ll be watching closely to see if further increases are needed, and we will need to keep interest rates high enough for long enough to ensure that we get the job done."

is there an election coming ( in the UK ) ??

if no , then the interest charges must be hurting the 'well-connected '

 

[mullokintyre]

And the winner is .... ARGENTINA!
From Reuters
BUENOS AIRES, Oct 12 (Reuters) - Argentina's central bank raised the country's benchmark interest rate to 133% from 118% on Thursday as inflation data came in worse than forecast, 10 days before voters go to the polls to choose a new president amid a deepening economic crisis.

The hike came shortly after September inflation figures were released, landing above expectations at 12.7% monthly and 138% annually, worsening surging prices that have sapped wages and savings and pushed two out of every five people in Argentina below the poverty line.


Argentina's central bank is struggling to keep the benchmark interest rate in line with inflation expectations, with a central bank poll of analysts later in the day forecasting inflation to end the year at more than 180%.

Mick

 

[Dona Ferentes]

Sweden’s Riksbank has cut their rates to 3.75% from 4% as widely expected and looks to cut 2 more times if inflation continues to be mild, make note their headline inflation rate is now stable at 2.2% after peaking at 10% in late 2022.

All eyes are now on the Bank of England tonight at 9pm who are expected to keep their official bank rate at 5.5% and then Governor Bailey speaks, who might give a more dovish lean.

 

[Dona Ferentes]

Bank of Ghana held interest rates at a lofty 29% for a second time in a row.

 

[eskys]

European markets ticked higher after the ECB signalled the possibility of successive rate cuts starting next month

 

[Dona Ferentes]

The Bank of Canada has become the first major central bank to cut interest rates, the first time since March 2020.

The central bank’s decision to cut the rate by 25 basis points to 4.75 per cent was not unexpected, but BoC governor Tiff Macklem said officials were increasingly confident inflation was returning to its 2 per cent target, down from a peak of 8.1 per cent. If that happens, he said, “it is reasonable to expect further cuts to our policy interest rate”.

 

[BossMan.]

If we see a big downside miss on Friday with non-farm payrolls, the Fed July cut could be back in question. USA economy is slowing a lot rapider then expected and the credit card delinquency rates are increasing. Oh its also an election year

 

[Dona Ferentes]

European Central Bank lowered the key cash deposit rate by a quarter-point to 3.75 per cent on Thursday, as expected.

Lagarde told reporters that the inflation outlook has improved “markedly” and said there’s a “strong likelihood” that the ECB is shifting into a “dialling-back phase”. But she declined to confirm that such a change of gear has now happened.

“The governing council will continue to follow a data-dependent and meeting-by-meeting approach to determining the appropriate level and duration of restriction,” the ECB said in a statement. “The governing council is not pre-committing to a particular rate path.”

 

[Dona Ferentes]

Overnight, The European Central Bank cut its key rate by 25 basis points to 3 per cent, and the accompanying statement was noticeably dovish in tone.

The Swiss National Bank opted for a larger-than-expected 50 basis point cut.