World share markets edged higher on Thursday after the US Federal Reserve promised to keep its support in place, though another rise in global bond yields and the dollar showed not everyone was convinced.
Bank of America Corporation got stung by lower interest rates in the fourth quarter, sending its profit down 4%, a trend that management expects to continue this year.
Egypt’s central bank left its key interest rates unchanged, unexpectedly halting an easing cycle that began in August. The bank kept its deposit rate steady at 12.25% and its lending rate at 13.25%, the bank’s Monetary Policy Committee (MPC) said in a statement.
The Central Bank of Sri Lanka monetary board reduced its lending rate by 100 basis points to 5.5 percent. The deposit rate was cut by the same amount to 4.5 percent.
Reserve Bank of India on Friday reduced its key lending rates and extended the moratorium period for interest payments on term loans.
Reserve Bank of India Governor Shaktikanta Das on Wednesday said that the Monetary Policy Committee (MPC) of the central bank, in an off-cycle meeting, hiked the repo rate by 40 basis points (bps) to 4.40 per cent with immediate effect.
This decision comes after the Federal Reserve announced an increase in the interest rate on reserve balances by 50 basis points at its meeting held on May 04, 2022.
The central banks across the world seem to have woken up to the reality of rising inflation, and they are using the one weapon in their hands, the interest rate, to tame inflation. The United Federal Reserve’s Federal Open Market Committee (FOMC)
Sri Lanka on Saturday announced a five-day share trading halt after the crisis-hit country hiked interest rates and declared a default on its external debt during the traditional New Year holiday,
The US Federal Reserve has raised the bank interest rate from a near-zero level to 0.25 to 0.50 per cent range, for the first time in four years as inflation stubbornly stood at 6.1 per cent. Federal Reserve Chairman Jerome Powell said, “As I looked round the