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The Swiss National Bank exited negative interest rates in 2022 and has paid interest of 1.75% since June last year to commercial banks which lodge money with it overnight

Higher interest rates drag Swiss National Bank to a loss

The Swiss National Bank has today posted an annual loss of 3.2 billion Swiss francs ($3.62 billion) for 2023, as a switch to positive interest rates cost it dearly and meant it could not pay a dividend for a second year in a row.

Business • 04 Mar 24

Inflation across the 20-nation euro zone fell to 2.6% in February from 2.8% a month earlier, new figures show today

Euro zone inflation dips less than expected

Euro zone inflation dipped last month but underlying price growth remained stubbornly high, adding to the case for the European Central Bank to hold interest rates at record highs a bit longer before starting to ease policy towards mid-year.

Business • 01 Mar 24

New figures today show that inflation eased in Ireland, France, Spain and many of Germany's largest states in February

Dip in euro zone inflation bolsters case for ECB easing

Euro zone inflation dipped further this month, strengthening the case for the European Central Bank to start easing interest rates from record highs later this year, data from some of the euro zone's biggest economies showed today.

Business • 29 Feb 24

Bank of Ireland's new mortgage lending in Ireland came to €4.9 billion - an increase of 25% on 2022

Bank of Ireland shares fall 11% despite €1.9bn profit

Bank of Ireland will more than triple returns to shareholders for the second successive year, the country's largest lender said today after higher interest rates helped it to nearly double full-year profit.

Business • 26 Feb 24

The ECB said its loss before the release of provisions was €7.9 billion after a loss of €1.6 billion in 2022

ECB reports record loss for 2023 as rate hikes bit

The European Central Bank has today reported a record annual loss for 2023 and said further losses were likely as its aggressive interest rate hikes force it to pay out billions of euros to banks.

Business • 22 Feb 24

The latest ECB minutes show that policymakers seemed more optimistic about inflation prospects than at any time in years

Minutes shows ECB more hopeful on inflation

European Central Bank policymakers agreed last month that inflation is coming under control but any talk of rate cuts was premature given rapid wage growth and abundant underlying price pressures, published accounts of their meeting showed.

Business • 22 Feb 24

Kristalina Georgieva, the Managing Director of the International Monetary Fund

IMF, World Bank warn Gaza war imperil global economy

The IMF and World Bank warned today that the Gaza war and the related attacks on shipping through the Red Sea pose threats to the global economy.

Business • 12 Feb 24

ECB policymaker Pierre Wunsch is the Belgian central bank governor

ECB should wait to cut rates, then take a bet - Wunsch

The European Central Bank should wait for more wage data before cutting interest rates but it will then have to take a gamble on whether inflation is falling for good, ECB policymaker Pierre Wunsch said today.

Business • 08 Feb 24

Societe Generale is France's third-biggest listed bank

SocGen's Q4 earnings slide but retail bank a bright spot

French bank Societe Generale has today reported a sharp drop in fourth-quarter net income, although the lender beat analyst expectations thanks to signs of recovery in its domestic retail business and stable investment bank trading revenue.

Business • 08 Feb 24

Michele Bullock, the governor of the Reserve Bank of Australia

Australia's RBA holds rates as inflation cools

Australia's central bank held interest rates steady today but cautioned that a further increase could not be ruled out given inflation was still too high, a strong signal that it isn't in a hurry to start easing policy anytime soon.

Business • 06 Feb 24

There was an extraordinary bounceback in stock market index valuations in 2023

Seven super stocks; how long can they stay 'magnificent'?

Seven big tech stocks led the way as markets bounced back last year from a dire 2022 - can they continue to drive market growth or are investors at risk of over-concentration?

Business • 05 Feb 24

IMF Managing Director Kristalina Georgieva

IMF says central banks should not rush into rate cuts

The IMF sees a greater risk to the global economy if central banks start cutting interest rates too soon than if they move "slightly" too late, Managing Director Kristalina Georgieva said.

Business • 02 Feb 24

Sweden's central bank today held its interest rates steady at 4%

Swedish central bank holds interest rates steady

Sweden's central bank kept its key interest rate unchanged at 4% today as expected but said that if inflation continued to slow it might be able to bring forward the timing of a first rate cut, possibly even to the first half of 2024.

Business • 01 Feb 24

Elections this year in the US, EU, India, Pakistan, Mexico and many other countries are influencing the way investors are managing their portfolios

'Year of elections' adds to uncertainty for investors

The unusually high number of elections taking place around the world this year poses a challenge to markets, according to one of the country's largest investment managers.

Business • 30 Jan 24

The ECB kept its key rate unchanged at a record high 4% last week but sounded confident that inflation was coming under control

ECB's next move is cut, but policymakers spar on timing

The European Central Bank's next move will be an interest rate cut but policymakers speaking today spared on the exact timing of the move or the trigger for action.

Business • 29 Jan 24

Turkey's Central Bank Governor Hafize Gaye Erkan

Turkey's central bank lifts key rate again to 45%

Turkey's central bank has today delivered what it said was the final interest rate hike of a historic tightening cycle that more than quintupled borrowing costs to fight record inflation.

Business • 25 Jan 24

Ida Wolden Bache, the Governor of Norway's Central Bank

Norway keeps interest rates on hold - as expected

Norway's central bank kept its benchmark interest rate unchanged at 4.5% today, as unanimously expected by analysts, and said the cost of borrowing would likely stay at that level for some time ahead.

Business • 25 Jan 24

The ECB, meeting in Frankfurt today, have made no changes to euro zone interest rates

ECB keeps rates unchanged, gives no hint of rate cuts

The European Central Bank kept interest rates unchanged as expected at a record high today and reaffirmed its commitment to fighting inflation, giving not a hint that policymakers are starting to contemplate policy easing.

Business • 25 Jan 24

The Bank of Canada governing council has held interest rates steady at four consecutive policy meetings after last hiking in July

Bank of Canada policy talks shift toward when to cut

The Bank of Canada has today held its key overnight rate at 5% and said while underlying inflation was still a concern, the bank's focus is shifting to when to cut borrowing costs rather than whether to hike again.

Business • 24 Jan 24

Economists say the time is approaching for the Bank of England to relax its tough line on borrowing costs

Bank of England set to start on path towards rate cuts

The Bank of England is expected to take a tentative first step towards cutting interest rates from their highest level in nearly 16 years next week after signs that the inflation crisis is abating.

Business • 23 Jan 24

The ECB left interest rates unchanged at its last meeting and made clear that no further hikes were coming

High borrowing costs warranted for 'some time' - ECB

European Central Bank policymakers meeting last month appeared confident that inflation was back to target but saw plenty of risks that still warranted steady policy and high borrowing costs, the accounts of the December policy meeting showed today.

Business • 18 Jan 24

Christine Lagarde was speaking to Bloomberg TV at Davos today

ECB's Lagarde says summer rate cut 'likely'

The European Central Bank could start cutting interest rates this summer, president Christine Lagarde said today, while stressing that any such move would depend on the latest economic data.

Business • 17 Jan 24

ECB President Christine Lagarde said at the bank's December meeting that the Governing Council had not even discussed the prospect of cutting rates

Is March looking too optimistic for an ECB rate cut?

Confirmation of rapidly declining inflation supercharged expectations of interest rate cuts from Central Banks in the early months of this year. However, investors have been forced to revise those expectations as inflation bounced back in December. March may now be looking too soon for a first cut.

Business • 06 Jan 24

UK house prices were 1.7% higher in December compared to the same time last year, new figures from Halifax show

UK house prices up for first time in 8 months - Halifax

British house prices rose in annual terms in December for the first time in eight months, data from mortgage lender Halifax showed today, adding to signs of a stabilisation in the property market after a hit from higher borrowing costs.

Business • 05 Jan 24

Italian shares outpaced their regional peers this year, with an almost 30% rise

Europe's STOXX 600 ends 2023 up 12.6% on rate cut hopes

European shares ended 2023 with an annual gain of almost 13% on hopes of softer monetary policy from major central banks next year.

Business • 29 Dec 23

Interest Rates

Higher interest rates drag Swiss National Bank to a loss

Euro zone inflation dips less than expected

Dip in euro zone inflation bolsters case for ECB easing

Bank of Ireland shares fall 11% despite €1.9bn profit

ECB reports record loss for 2023 as rate hikes bit

Minutes shows ECB more hopeful on inflation

IMF, World Bank warn Gaza war imperil global economy

ECB should wait to cut rates, then take a bet - Wunsch

SocGen's Q4 earnings slide but retail bank a bright spot

Australia's RBA holds rates as inflation cools

Seven super stocks; how long can they stay 'magnificent'?

IMF says central banks should not rush into rate cuts

Swedish central bank holds interest rates steady

'Year of elections' adds to uncertainty for investors

ECB's next move is cut, but policymakers spar on timing

Turkey's central bank lifts key rate again to 45%

Norway keeps interest rates on hold - as expected

ECB keeps rates unchanged, gives no hint of rate cuts

Bank of Canada policy talks shift toward when to cut

Bank of England set to start on path towards rate cuts

High borrowing costs warranted for 'some time' - ECB

ECB's Lagarde says summer rate cut 'likely'

Is March looking too optimistic for an ECB rate cut?

UK house prices up for first time in 8 months - Halifax

Europe's STOXX 600 ends 2023 up 12.6% on rate cut hopes