rate

Turkish central bank raises key interest rate to 50% as inflation soars

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ANKARA, Turkey — Turkey’s central bank raised its key interest rate by 5 percentage points on Thursday, resuming a policy of rate hikes aimed at combating soaring inflation that is causing households severe economic pain. In a surprise decision, the central bank said it was raising the benchmark one-week repo rate to 50%. The bank … Read more

Turkey central bank raises interest rate to 50%

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A picture taken on August 14, 2018 shows the logo of Turkey’s Central Bank at the entrance of its headquarters in Ankara, Turkey. ADEM ALTAN | AFP | Getty Images Turkey’s central bank on Thursday raised its key interest rate, the one-week repo rate, from 45% to 50%, citing the continuing need to counter climbing … Read more

Bank of Japan made a landmark rate pivot. Here’s what happens next

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Neon advertisements in Osaka’s Dotonbori district in Japan Alexander Spatari | Moment | Getty Images Japan’s central bank on Tuesday finally ended its experiment with negative rates and unconventional easing tools which were aimed at reflating the world’s fourth-largest economy. The Bank of Japan’s decision came just days after Rengo, Japan’s largest federation of trade … Read more

We need to ‘take our time’ to get rate cuts right

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The European Central Bank must take its time to get interest rate cuts right, the institution’s chief economist told CNBC, adding that companies should take a hit on profits to allow real wages to rise without fueling inflation. “A lot of evidence is accumulating, but what’s also fair to say is that the transition from … Read more

European Central Bank keeps key interest rate at a record. Inflation is down, so when will it cut?

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FRANKFURT, Germany — The European Central Bank left its key interest rate at a record high as it waits for more confirmation that toxic inflation is under control for good — even as high borrowing costs drag on the stalled economy. The decision Thursday comes as central banks around the world, including the U.S. Federal … Read more

South Korea’s World’s-Lowest Fertility Rate Drops to New Record, Again

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South Korea set a fresh record for the world’s lowest fertility rate as the impact of the nation’s aging demographics looms large for its medical system, social welfare provision and economic growth. The number of babies expected per woman in a lifetime fell to 0.72 last year from 0.78 in 2022, according to data released … Read more

Turkey holds interest rate at 45% for first time after 8 months of hikes

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Turkish flag over a DenizBank building. Turkey is expected to head to the polls on Sunday. Ismail Ferdous | Bloomberg | Getty Images Turkey’s central bank held its key interest rate on Thursday, keeping it at 45% despite soaring inflation after eight consecutive months of hikes. The move was widely expected as the bank indicated … Read more

Worries over rate cuts persist

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Traders work on the floor of the New York Stock Exchange during morning trading on July 06, 2023 in New York City.  Michael M. Santiago | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no … Read more

Wariness over rate cuts lingers

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Traders react as Federal Reserve Chair Jerome Powell is seen delivering remarks on a screen, on the floor of the New York Stock Exchange (NYSE) in New York City, March 22, 2023. Brendan McDermid | Reuters This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to … Read more

Bank of England rate cuts likely later but larger, Goldman Sachs says

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Blurred buses pass the Bank of England in the City of London on 7th February 2024 in London, United Kingdom.  Mike Kemp | In Pictures | Getty Images The Bank of England is likely to hold interest rates higher for longer before slashing them more sharply than expected in the second half of the year, … Read more