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Turkish Central Bank Governor Hafize Gaye Erkan

Turkey raises rates to 42.5%, nears end of cycle

Turkey's central bank lifted its key interest rate by 250 basis points to 42.5% today as expected, and said the aggressive tightening cycle will be done "as soon as possible" as it faces down years of soaring inflation.

Business • 21 Dec 23

World stock markets staged something of a recovery this year

Markets poised for interest rate increases in 2024

After a pretty awful year for investment markets in 2022 as inflation surged and interest rate hikes kicked in, stocks staged something of a recovery this year.

Business • 20 Dec 23

Russia's central bank has now raised rates by 850 basis points since July, including an unscheduled emergency hike in August

Russian central bank hikes rates to 16%

Russia's central bank has today raised its key interest rate by 100 basis points to 16%, hiking borrowing costs for the fifth meeting running under stubborn inflation pressure from widespread labour shortages, high lending and the weak rouble.

Business • 15 Dec 23

The European Central Bank has kept euro zone interest rates steady today - as expected

ECB pushes back against rate cut bets

The European Central Bank pushed back against bets on imminent cuts to interest rates today by reaffirming that borrowing costs would remain at record highs despite lower inflation expectations.

Business • 14 Dec 23

The Swiss National Bank held its policy interest rate steady at 1.75% today - as expected

Swiss National Bank keeps interest rate at 1.75%

The Swiss National Bank held its policy interest rate steady at 1.75% today, kicking off a busy day for central banks around Europe, which are also expected to pause following their monetary policy tightening campaigns after inflation ebbed.

Business • 14 Dec 23

The European Central Bank is meeting on interest rates later this week

5 questions for the ECB ahead of this week's meeting

Investors seeking to cash in on a policy pivot from the European Central Bank will watch Thursday's meeting for any hint they should sit tight on bets for swift interest rate cuts next year.

Business • 11 Dec 23

The Bank of England is forecast to keep borrowing costs at a 15-year high at its next meeting on December 14, according to a Reuters poll

Bank of England to hold its line against rate cut talk

The Bank of England looks set to stick to its tough line against talk of interest rate cuts in Britain, even as other leading central banks signal that they might be approaching a turning point in their fight against inflation.

Business • 08 Dec 23

The 10 recent ECB rate hikes are having a significant financial and emotional toll on MABS clients

Recent ECB rate hikes impacting MABS clients

Ten interest rate increases by the European Central Bank have taken a significant financial and emotional toll on homeowners who are also clients of the Money Advice and Budgeting Service (MABS) in the South Leinster area.

Business • 06 Dec 23

The Reserve Bank of Australia kept rates at a 12-year high of 4.35% today

Australia to hold rates steady until at least February

Australia's central bank held interest rates steady today as expected, buying it more time to assess the state of the economy and decide whether to tighten further next year even as the US and Europe are seen as almost certain to ease.

Business • 05 Dec 23

Any future decisions on euro zone interest rates would have to depend on the reality on the ground, ECB Vice-President Luis de Guindos said

Inflation data good news but too early to declare a win

Recent inflation data was "good news" and "a positive surprise", but any future decisions on monetary policy would have to depend on the reality on the ground, ECB Vice-President Luis de Guindos said today.

Business • 04 Dec 23

Euro zone inflation fell to 2.4% in November from 2.9% in October, new figures show today

Euro zone inflation falls to more than two-year low

Euro zone inflation tumbled far more than expected this month, a challenge to the European Central Bank's narrative that price growth remains stubborn and likely fuelling bets on early spring rate cuts in defiance of the bank's explicit guidance.

Business • 01 Dec 23

Turkey's official annual inflation rate peaked at 85% in October 2022 and climbed back up to 61% last month

Turkey delivers another major interest rate increase

Turkey's central bank has surprised the market with a larger-than-expected interest hike as it ramped up its fight against inflation and efforts to support the slumping lira.

Business • 24 Nov 23

The European Central Bank held its deposit rate at a record high 4% last month as expected

ECB policymakers cautiously optimistic about inflation

Euro zone inflation is falling as expected, or even a bit faster, but the European Central Bank must keep the possibility of an interest rate hike on the table, policymakers agreed last month, according to the accounts of their October 25-26 meeting.

Business • 23 Nov 23

Nationwide said its profit for the six months to September 30 rose to £989m from £969m a year earlier

UK lender Nationwide reports record member benefits

Nationwide Building Society has reported record benefits for its customers in the first half of its financial year, including a £344m payout and £885m of incentives on products below market rates.

Business • 17 Nov 23

Alfred Kammer, the head of the IMF's European Department, said the ECB's deposit rate should stay close to its record high 4% level for all of next year

ECB must keep rates at 4% in 2024 to get inflation down

Rapid wage growth in the euro zone could keep inflation elevated longer and the European Central Bank should hold interest rates at or near record highs during next year to extinguish price pressures, the International Monetary Fund said today.

Business • 08 Nov 23

The Reserve Bank of Australia Governor Michele Bullock

Australia raises rates to curb stubborn inflation

Australia's central bank has today raised the key interest rate to a near 12-year high to tame stubbornly high inflation.

Business • 07 Nov 23

Traders now price around an 80% chance of a 25 basis-points (bps) ECB cut by April

Traders bet ECB first big central bank to cut rates

Financial markets are ramping up expectations for interest rate cuts from the European Central Bank, betting it will be the first major central bank to ease policy to buffer a euro zone economy facing recession in contrast to a robust US.

Business • 03 Nov 23

Norges Bank Governor Ida Wolden Bache said the bank may raise rates in December

Norway keeps interest rates on hold, eyes December hike

Norway's central bank kept its benchmark interest rate unchanged at 4.25% today, as widely expected, and said it would likely raise the cost of borrowing next month unless inflation showed a continued decline.

Business • 02 Nov 23

AIB said its total income increased by 70% on the back of the higher interest rate environment in the third quarter

AIB lifts 2023 guidance for third time this year

AIB has today lifted its full year income guidance for the third time this year after a higher interest rate environment contributed to a "very strong" third quarter that it expects to continue in the final three months.

Business • 01 Nov 23

For ten meetings in a row from July of last year, tackling inflation was the ECB's mantra and a hike in interest rates was delivered at each meeting

Where next for interest rates as ECB pauses?

For ten meetings in a row, over a period of little more than a year, the European Central Bank embarked on the most ambitious rate hiking cycle in its existence. This week it opted to take a break. Most analysts speculate that the bank is done hiking rates. And some believe rate cuts are coming.

Business • 29 Oct 23

US GDP growth came in at an annual rate of 4.9% for the three months from July to September, new figures show today

US economy grows at fastest rate in nearly two years

The US economy heated up in the third quarter, government data showed today, as a resilient job market helped boost consumer spending, holding off the prospect of a recession.

Business • 26 Oct 23

The European Central Bank has kept euro zone rates on hold today

ECB breaks record streak of hikes as economy weakens

The European Central Bank left interest rates unchanged as expected today, snapping an unprecedented streak of ten consecutive rate hikes, and maintained its guidance which signals steady policy ahead.

Business • 26 Oct 23

New ECB survey shows that euro zone lenders and borrowers are shunning credit as rates climb

Euro zone lenders, borrowers shun credit as rates climb

Euro zone banks curbed access to credit even as demand for it from households and companies fell due to high interest rates and a deteriorating economic outlook, a European Central Bank survey showed today.

Business • 24 Oct 23

The European Central Bank has signalled a pause in its interest rate increases and markets are pricing in no further hikes

Five questions for the ECB this week

The European Central Bank has good reasons to hold fire on Thursday after raising interest rates at its past ten meetings.

Business • 23 Oct 23

The ECB raised its key interest rate to a record high of 4% at its September 13-14 meeting

Split ECB chose rate hike to show grit on inflation

Divided European Central Bank policymakers opted for raising interest rates at their latest meeting to show resolve in the fight against inflation even though evidence was inconclusive, the account of the gathering has showed.

Business • 13 Oct 23

Interest Rates

Turkey raises rates to 42.5%, nears end of cycle

Markets poised for interest rate increases in 2024

Russian central bank hikes rates to 16%

ECB pushes back against rate cut bets

Swiss National Bank keeps interest rate at 1.75%

5 questions for the ECB ahead of this week's meeting

Bank of England to hold its line against rate cut talk

Recent ECB rate hikes impacting MABS clients

Australia to hold rates steady until at least February

Inflation data good news but too early to declare a win

Euro zone inflation falls to more than two-year low

Turkey delivers another major interest rate increase

ECB policymakers cautiously optimistic about inflation

UK lender Nationwide reports record member benefits

ECB must keep rates at 4% in 2024 to get inflation down

Australia raises rates to curb stubborn inflation

Traders bet ECB first big central bank to cut rates

Norway keeps interest rates on hold, eyes December hike

AIB lifts 2023 guidance for third time this year

Where next for interest rates as ECB pauses?

US economy grows at fastest rate in nearly two years

ECB breaks record streak of hikes as economy weakens

Euro zone lenders, borrowers shun credit as rates climb

Five questions for the ECB this week

Split ECB chose rate hike to show grit on inflation

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