The Reserve Bank of Australia has held interest rates steady for a fourth consecutive month. But a hike before the end of the year remains possible, according to one of the big four banks. The cash rate remains 4.1 per cent after the RBA board met on Tuesday, the first time since Michele Bullock took … Read more
A gauge the Federal Reserve uses for inflation rose slightly in November and edged closer to the central bank’s goal. The core personal consumption expenditures price index, which excludes volatile food and energy prices, increased 0.1% for the month, and was up 3.2% from a year ago, the Commerce Department reported Friday. Economists surveyed by … Read more
At least 100 people are jobless and an unknown number of projects are in limbo after a major Australian construction company collapsed, citing “inflationary pressures”. NPM (National Projects and Maintenance) Group, comprising 10 enterprises operating across Australia, went under on Monday. “The ongoing market pressures have made NPM’s continued operation untenable, due to skilled labour … Read more
My top 10 things to watch Thursday, Dec. 14 1. U.S. stocks are higher in premarket trading Thursday, with S & P 500 futures up 0.46%. Equities rallied Wednesday after the Federal Reserve held interest rates steady, while indicating it would cut rates three times in 2024 — a decision more dovish than I expected. … Read more
The Reserve Bank of Australia has resumed hiking interest rates after holding steady for the past four months, piling on financial pressure for mortgage holders. The RBA met on Tuesday and chose to hike the cash rate by 25 basis points to 4.35 per cent. WATCH THE VIDEO ABOVE: Economists share RBA cash rate predictions … Read more
There is more financial pain on the cards for Australian borrowers, with all four of Australia’s big banks announcing they would lift mortgage rates following the Reserve Bank’s Melbourne Cup day hike. The Reserve Bank delivered a 25 basis point increase to the official cash rate on Tuesday. WATCH THE VIDEO ABOVE: After four months … Read more
The 10-year Treasury note yield rose Monday to start the last full trading week of 2023. The yield on the 10-year Treasury was about 2 basis points higher at 3.943%. On Thursday, the yield fell below the 4% level, hitting its lowest since July. The 2-year Treasury yield was little changed at 4.457%, below the … Read more
The Reserve Bank of Australia has decided to hold interest rates steady this month, giving mortgage holders much needed relief just weeks out from Christmas. The RBA board met on Tuesday and chose to hold the cash rate steady at 4.35 per cent. WATCH THE VIDEO ABOVE: Reserve Bank gifts Australians some Christmas relief with … Read more
