Banks (Finance)
State Bank of Pakistan's Monetary Policy Committee (MPC) kept the benchmark policy rate steady at 11% despite expectations of a rate cut. The decision was influenced by emerging inflation risks and external pressures.SBP Governor Jameel Ahmad highlighted the committee's consideration of multiple economic indicators, including
Banks (Finance)
The Bank of Canada decided to maintain its overnight lending rate at 2.75 per cent, defying expectations of a potential rate cut due to mounting trade tensions with the US. Governor Tiff Macklem acknowledged the introduction of tariffs by US President Donald Trump has led to a permanently smaller
Banks (Finance)
The June quarter inflation figures confirm that the Reserve Bank of Australia made a mistake by keeping interest rates steady at its previous meeting, as the official measure of inflation fell to 2.1%, while the monthly indicator dropped outside the RBA target band at 1.9%. The Reserve Bank
Economic growth
The Federal Reserve left interest rates unchanged on Wednesday, despite concerns about the impact of tariffs on the US economy. In a split vote, the Federal Open Market Committee (FOMC) voted 9-2 to keep rates at the 4.25%-4.50% range, with governors Christopher Waller and Michelle Bowman dissenting.
Economic growth
The Federal Reserve kept interest rates unchanged on Wednesday, despite increasing pressure from President Trump to lower rates. The decision to hold rates steady at 4.25 to 4.5 percent was made amid uncertainty over a raft of administration policies that could drag on the economy, including higher tariff
Banks (Finance)
The International Monetary Fund has called on the Bank of England to reduce interest rates twice more this year, citing concerns about the UK's economic growth and increasing uncertainty about global trade policies. The IMF's suggestion comes as the organization upgrades its global growth forecasts, expecting
Economic growth
The South African Reserve Bank (Sarb) is poised to ease its monetary policy stance for the first time in months, despite the ongoing challenges posed by rising inflation, export tariffs, and administered price adjustments. This move aligns with the bank's tradition of responding to an evolving economic landscape
Banks (Finance)
The Pakistan China Joint Chamber of Commerce and Industry (PCCI) has recommended that the State Bank of Pakistan reduce the benchmark interest rate from 11% to 6% in its upcoming monetary policy announcement. According to PCCI officials, improved economic indicators, such as a decrease in inflation and stabilization of the
Banks (Finance)
Savings accounts in the UK have lost an average of 11p off the value of every £1 left in them over the past five years due to high inflation and low interest rates. According to data from Moneyfacts, the average savings pot has lost 11% of its value, with the
Interest rates
The current mortgage market offers a diverse range of rates and terms to suit various needs. Barclays, HSBC, TSB, and West Bromwich Building Society are among the major lenders offering competitive rates. The rates are divided into short-term, longer-term, and flexible fixed and variable options. Key Takeaways: * Barclays offers a
Banks (Finance)
Regional banks in South Korea are increasingly offering low-interest loans to foreign workers, particularly those from non-Korean countries with limited credit history in the country. These loans are aimed at addressing the financial needs of foreign workers who have limited access to financial services due to their thin credit files.
Financial markets
Reserve Bank governor Michele Bullock has pushed back against claims that a jump in unemployment has come as a surprise to the institution, saying the jobs market remains relatively strong despite a 0.2 percentage point lift in the unemployment rate in June. The jobless rate hit 4.3 per
