- Wednesday, 13 December 2017
- News
Fed hiked interest rates to 1.5%
The Federal Reserve had been expected to raise its benchmark interest rate a quarter point to a target range of 1.25 percent to 1.5 percent. Members of the Federal Open Market Committee raised its GDP estimate from 2.1 percent in September to 2.5 percent. The inflation forecast for 2018 also got a modest boost, from 1.6 percent to 1.7 percent. The statement noted that the jobs market "will remain strong," an upgrade from the assessment at the Oct. 31-Nov. 1 meeting that conditions "will strengthen somewhat further."
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- Tuesday, 05 December 2017
- News
RBA left interest rates unchanged as expected
The Reserve Bank of Australia held its cash rate at a record low 1.50% on Tuesday as expected. The low level of interest rates is continuing to support the Australian economy. Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.
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- Tuesday, 07 November 2017
- News
RBA left interest rates unchanged
The Reserve Bank of Australia on Tuesday held its benchmark cash rate at 1.50% as expected, signaling it is watching the housing market closely and that a higher Australian dollar is restraining price pressures. RBA governor Philip Lowe said the board expects the current low rate of inflation to gradually lift as economic growth improves. 'Inflation remains low, with both CPI and underlying inflation running a little below two per cent,' he said in a statement on Tuesday. 'In underlying terms, inflation is likely to remain low for some time, reflecting the slow growth in labour costs and increased competitive pressures, especially in retailing.'
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- Thursday, 02 November 2017
- News
Bank of England hikes rates for the first time in a decade
Alongside Governor Mark Carney, the majority of rate-setters at the U.K.'s central bank voted in favor of hiking the benchmark rate to 0.5 percent from 0.25 percent. The Bank of England's decision to rate hikes Thursday sees the central bank fall in line with the U.S. Federal Reserve and to some extent the European Central Bank. The central bank expects the inflation rate to have peaked at 3.2 percent in October — and will be at 3 percent for the year as a whole. Speaking at a news conference shortly after the interest rate announcement, Carney said: "It isn't so much where inflation is now but where it is going that concerns us."
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