The European Central Bank (ECB) has raised interest rates for the first time in more than 11 years as it tries to control soaring eurozone inflation. The ECB increased its key interest rate by 0.5 percentage points to 0.0% and plans further hikes this year. The rate has been negative since 2014 in a bid to boost the region’s economy […]
The Fed agreed to a 0.75-percentage-point rate rise at their two-day policy meeting that concluded Wednesday. This move is the most significant interest rate rise in nearly 30 years as it ramps up its fight to rein in soaring consumer prices. The Federal Reserve said it would increase its benchmark rate by three-quarters of a percentage point, pushing its target […]
For the first time in more than 10 years, the Bank of England has raised interest rates. The official bank rate has been lifted from 0.25 percent to 0.5 percent, the first increase since July 2007. The move reverses the cut in August of last year – made in the wake of the vote to leave the European Union. Almost […]
The U.S. Federal reserve is in no haste to move the interest rate from its record low of 0% since 2008. However, there is a change in its language as the word “patience” no longer populates the oft uttered statement from the Fed. The Federal Reserve chair, Janet Yellen, said it best, “Just because we removed the word patient from […]
