In 2006 the US central bank completed a series of interest rate rises that took its base rate from 1% to 5.25%. The plan was to cool a booming economy, but ended two years later with the great financial crash.
Analysts have changed their interest rate forecasts after the collapse of Silicon Valley Bank in the US, the sale of SVB’s London offshoot to HSBC for £1, and the rescue ofEach bank has pursued its own risky strategy, allowing regulators to say their problems are one-offs.
Martin Beck, chief economic adviser to the EY Item Club, said there was a strong case for easing back on interest rate rises before the bank rescues.
Monday… Run day? I wanna see the greedy ubber wealthy pack themselves.
So now inflation will rocket
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There’s ‘very little sign’ of the substantial interest rate rises having workedThe Australian’s Washington Correspondent Adam Creighton says there’s “very little sign” of the substantial interest rate rises having worked. Mr Creighton said his sense is that central banks are going to “press on” and continue to lift rates in order to bring down inflation. “If central banks are going to maintain their credibility, they have to get that inflation down,” he told Sky News Business Editor Ross Greenwood. Meant to push the peasants further into poverty ! Already sent a bank broke. Here's an idea: Tax the companies who are causing 30% of inflation due to making massive profits
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Central banks must keep interest rates high to combat inflation, says OECDOrganisation also says UK will be only G20 economy apart from Russia to shrink this year No the corporations have been making record profits. They are the sole reason for high inflation
Source: GuardianAus - 🏆 1. / 98 Read more »
OECD warns of prolonged high interest rates to combat inflation until 2024The OECD is warning that interest rates must stay high until 2024 to tackle high inflation. The Organisation for Economic Cooperation and Development downgraded its forecasts for Australia's economic growth to 1.8 per cent this year and 1.5 per cent next year, one per cent lower than first predicted. New data reveals home loans could increase by 30 per cent or more - once fixed rates end later this year. Damned it, I was just about to buy a dumbmarine from yanks Ummm...there foes your savings and retirement, this is intentional.
Source: SkyNewsAust - 🏆 7. / 78 Read more »