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Bank of England Interest Rate Hiked to 5.25%, Meeting Analyst Expectations
August 3, 2023
The Bank of England raised its bank rate by 25 basis points after a 6-3 vote that included two dissents favoring a 50-bp tightening and one committee member who preferred leaving the key rate steady. At 5.25%, the new rate level after 14 increases since December 2021 has climbed a total of 515 basis points. […] More
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Brazilian Rate Cut, the First Since August 2020
August 3, 2023
The Central Bank of Brazil’s Selic interest rate was cut more sharply than anticipated to 13.25%. Such had been at 13.75% since the last hike in a long tightening cycle was done in August 2022. In all, the rate climbed 450 basis points in 2022 and 725 bps in 2021 from a pandemic base of […] More
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Fitch’s Downgrade of the U.S. Debt Rating Pushes Long-Term Interest Rates Higher
August 3, 2023
In the wake of the announced downgrading of U.S. government debt and amid doubts about a coming recession, the 10-year Treasury yield rose nine basis points overnight and touched a high of 4.18%, which compares to 3.31% just over four months ago. 4.18% is the highest level since early last November. Other 10-year sovereign debt […] More
