The Bank of Canada lifted its policy interest rates by half a percentage point to the highest in almost 15 years and opened the door to a pause in its historic tightening campaign.
“That was the first major change to language on future hikes since the Bank of Canada began lifting rates as the Council opened the door to a pause at its next meeting,” said Taylor Nugent, an economist at NAB. ING forecasts a follow-up 0.25 percentage point increase at the policy meeting in January, but with a low conviction.
Meanwhile, the bond market is signalling the risk of a deeper recession than currently expected. The yield on the Canadian 10-year government bond has dropped more than 100 basis points below the 2-year yield, marking the biggest inversion of Canada’s yield curve since at least 1994 and deeper than the US Treasury yield curve inversion.
“The US is inverting rapidly and probably going to minus 100, and we may be flattening further as well to a minus number one day,” said Peter Sheahan, a director of money market at Curve.in the September quarter from the previous three months and was 5.9 per cent stronger from a year ago. It is projected to slow materially in 2023 as higher inflation and rising borrowing costs slash savings and drag on consumer spending.
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Reserve Bank raises rates for eighth straight monthThe Reserve Bank of Australia lifts interest rates by 0.25 of a percentage point, taking the cash rate target to 3.1 per cent. 🤪 Leaves that 17% in the 70s for dead doesn't it...😂 probably a good idea all things considered as a crypto bro, i have to say that i support this move, even though it will curb adoption
Source: abcnews - 🏆 5. / 83 Read more »
Reserve Bank lifts interest rates to 10-year highBREAKING: The Reserve Bank has delivered a pre-Christmas rate rise, taking the official cash rate to its highest level in 10 years and capping off the year’s aggressive tightening cycle. rachelclun swrighteconomy rachelclun swrighteconomy To put this into better perspective, it's an increase of $5 per day for a $750,000 mortgage. So buy one less soy late per day. rachelclun swrighteconomy AlboMP you’ve had six months to fix this. rachelclun swrighteconomy Will be very difficult for those on tight budgets. Hopefully the economy slows so we don’t have anymore next year. Definitely a shock as so many rises we haven’t seen for so long.
Source: theage - 🏆 8. / 77 Read more »
Reserve Bank lifts interest rates to 10-year highThe bank has delivered a pre-Christmas rate rise, taking the official cash rate to 3.1 per cent, its highest level since November 2012. auspol This is complete stupidity at its expert best. How many families are going to be broken up, how many more suicides, how many small bus will hit the wall, how many thousands will lose their jobs FOR WHAT. This STUPIDITY MUST BE STOPPED NOW. One day they will realise that they are the actual prime cause of inflation. We’ll ignore the weather events, war, and medical pandemic that have impacted supply and pushed up prices. RBA are using false data to back their reasons for internet rate rises.
Source: brisbanetimes - 🏆 13. / 67 Read more »
Reserve Bank lifts interest rates to 10-year highThe bank has delivered a pre-Christmas rate rise, taking the official cash rate to 3.1 per cent, its highest level since November 2012. rachelclun swrighteconomy It's alright for him on his million $ plus salary, the greedy so & so! The love of money is the root of all evil,1 Timothy 6:10. Which some, the Reserve Bank coverts after.
Source: smh - 🏆 6. / 80 Read more »
Do captains of industry know the pain they bring?Readers discuss the pain of rising interest rates and whether the Reserve Bank is to blame. Hippy. So much great political satire out there… and we’re stuck with Cathy Wilcox Does this even classify as a cartoon?
Source: theage - 🏆 8. / 77 Read more »