Interest rate

Gold Prices Reach New High Amidst Fed Rate Cut Speculation

Gold prices surged to a new all-time high of 2,353 USD per ounce during early trading on Monday, continuing a rapid ascent witnessed over the past two weeks. This surge comes as investors grapple with the aftermath of a robust U.S. jobs report released on Friday, which has prompted reconsideration of market expectations regarding the Federal Reserve's interest rate policy.

Gold hits new record high on Fed rate cut bets

Gold hit another fresh record high yesterday as investors grow confident that the Federal Reserve will cut interest rates this year, even after data showed a slight uptick in a key inflation report.

The precious metal has enjoyed healthy buying interest this year as the U.S. central bank hints at an easing of credit conditions.

Deposit rates climb higher after Central Bank’s move

Turkish banks have hiked their deposit rates and loan rates after the Central Bank, in a surprise move, increased the policy rate by 500 basis points to 50 percent last week. 

The average return on three-month lira deposits rose to 55.66 percent. The three-month deposit rate was around 28 percent almost a year ago.

Bank of Japan finally ends negative interest rate policy

Japan's central bank on March 19 scrapped its negative interest rate as it finally began unwinding one of the world's most aggressive monetary easing programs.

The maverick policy dating back to 2013 was aimed at jump-starting economic growth and inflation after the country's "lost decades" of stagnant activity and prices in the world's number four economy.

Aversion toward mortgages

Greece continues to have the worst performance in household credit, registering a consistently negative rate, which was -1.7% in January against a 0.3% increase in the eurozone, according to a report published on Thursday by DBRS Morningstar, focusing on the "slow production of new mortgage loans."

ECB keeps rates on hold with inflation still sticky

The European Central Bank froze interest rates again on Thursday as it held off from starting to cut borrowing costs amid concerns that sticky inflation is not easing as fast as hoped.

The Frankfurt-based institution's governing council held the benchmark deposit rate steady at a record four percent for a fourth straight meeting, as widely expected.