The US spent $213 billion paying interest on the national debt in the fourth quarter of 2022 as the Fed jacked up borrowing costs at an unprecedented pace.
The rising cost of living doesn’t hit all Americans equally. Yet the benchmark figure for charting the rising cost of living excludes people in rural areas.
The reputation of the Bank of Canada will be undermined if the public believes the bank’s method of controlling inflation is no longer the right move.
Interest rates are almost certain to rise again in February, after the latest Consumer Price Index figures showing inflation hitting a record high of 7.8% in 2022.
Mortgage rates – and repayments – have risen significantly since this time last year.
Since foreign owners only represent a tiny segment of the housing market, it’s unlikely that Canada’s new ban on foreign homebuyers will make homes more affordable for Canadians.
While UK inflation could drop again in 2023, there is a lot of work to do to support the country’s economy.
Price inflation has hit countries differently, but most central banks and governments are concerned about the rising cost of living in 2023.
Central banks are raising interest rates to tame inflation, but 2023 will increasingly turn a technical decision into a political challenge.
Although many say the economic outlook for next year appears bleak, there is room for optimism.
Mortgage rates have rocketed in recent months, but what about the rate on your savings account?
Central bankers are set to slow down their rate hikes.
The Fed is waging war to get inflation down to its preferred level of around 2%. An economist explains what’s so special about that number.
The Bank of England expects a long UK recession but believes interest rates may not need to increase much more.
With 30-year fixed rates hitting a 20-year high of 7%, a finance scholar explains where these life-altering loans originated.
The Fed is also beginning to reduce its massive balance sheet, which is beginning to cause disruptions in the $24 trillion Treasury market.
Because central banks delayed interest rate increases early in the pandemic, they have spent 2022 playing catch-up with runaway inflation.
Debt is becoming unaffordable.
Only months into the job, Prime Minister Liz Truss is on her way out already, leaving her government in search of a new leader and a way to regain public trust.
Borrowers want to know when soaring mortgage rates will go down again.