The Bank of England has decided to keep interest rates at 4%, a choice made by a very small margin. The panel thinks inflation, which is how fast prices go up, has reached its highest point. But they want to see more proof before they lower rates. The governor, Andrew Bailey, is in a tough spot. He needs to decide if he's going to be like Santa and cut rates or like ...
Japan's finance minister, Satsuki Katayama, has been keeping a close eye on the yen's wild ride. The yen has been dropping fast, hitting around 154 per U. S. dollar. This isn't just a small dip; it's a big, quick fall. Katayama says the government is watching this closely, especially the wild swings and the role of speculators. Katayama wasn't too happy about the ra...
The Federal Reserve decided to lower its interest rate this week, but mortgage rates didn't follow suit. Instead, they went up. The average rate for a 30-year fixed mortgage increased by 20 basis points after the Fed's announcement and Chairman Jerome Powell's press conference, according to Mortgage News Daily. This isn't the first time this has happened. The bond m...
Lately, fixed-rate HELOCs have been gaining attention in the home equity lending world. These loans blend features of home equity loans and traditional HELOCs, offering a mix of flexibility and stability. But are they truly beneficial for homeowners, or just another clever marketing strategy? Fixed-rate HELOCs allow borrowers to lock in a stable interest rate on par...
The Federal Reserve is likely to lower interest rates this week, despite a lack of recent data. This is because the government shutdown has delayed key reports on jobs and inflation. Without this data, the Fed is making big decisions based on incomplete information. The Fed has hinted at rate cuts in October and December. But if job numbers suddenly improve, these c...
China's central bank, the People's Bank of China (PBOC), decided to keep its key lending rates steady for the fourth month in a row. This decision came despite the U. S. Federal Reserve's recent rate cut. The one-year loan prime rate (LPR) remained at 3. 0%, and the five-year LPR stayed at 3. 5%. This choice was not a surprise. Economists had predicted that China wo...
Kevin O'Leary, the famous investor from "Shark Tank, " has some strong opinions about crypto and the FTX bankruptcy. He thinks FTX will have the most successful bankruptcy in American history. Why? Because people who had money in FTX might get back more than they put in, especially those who invested in things like Solana and AI companies that have gone up in value. ...
Stephen Miran, President Donald Trump's top economic advisor, is on track to secure a crucial Senate approval for his nomination to become a Federal Reserve governor. However, getting him ready to influence interest rate decisions at the upcoming Fed meeting seems unlikely. The Senate Banking Committee is set to vote on Miran's nomination, with Republicans expected ...
Inflation is still on the rise, but not by much. The latest numbers show prices went up by 2. 6% over the past year. That's not great, but it's not terrible either. It's the same as last month, so at least it's not getting worse fast. The core PCE, which looks at prices without food and fuel, went up a bit more than last month. It's now at 2. 9%. That's higher than ...
Crypto prices shot up after Jerome Powell, the head of the Federal Reserve, hinted at possible interest rate cuts. This news made crypto traders feel hopeful. Bitcoin, Ethereum, and XRP saw big jumps in their values. Bitcoin reached $116, 518. 85. Ethereum hit $4, 629. 78. XRP crossed $3. 00. Other coins like Solana, Dogecoin, and Shiba Inu also saw gains. Traders ...