Tag Archives: interest rate

Major Australian bank taken to court over interest rate rigging

NAB interest rate rigging Australian bank

The corporate regulator has launched legal action against National Australia Bank for allegedly manipulating the bank bill swap rate (BBSW) 50 times. NAB said it would fight the case. Labor leader Bill Shorten jumped on the move, saying it provided further evidence of the need for a royal commission into the banks. “How …

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Federal Reserve is unable to raise interest rates

Federal Reserve interest rate decision

From Filip Karinja, for Birch Gold Group The Federal Reserve has announced that it will keep rates as is for the time being, at 0.5%. Previously, the Fed said it would carry out four increases in 2016, each by 25 basis points. However, as the months pass, the Fed seems to be stalling. …

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Japan joins negative interest rate club

Haruhiko Kuroda governor Bank of Japan

In a surprise move, the Bank of Japan has introduced a negative interest rate. The benchmark rate of -0.1% means that commercial banks will be charged by the central bank for some deposits. It is designed to encourage them to use their reserves to lend to businesses in an attempt …

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Fed raises interest rates…now what?

Federal Reserve interest rate rise

From Filip Karinja, for Birch Gold Group This week, the Federal Reserve voted to raise interest rates a quarter of a percent to 0.5%, the first rate rise since 2006. But this wasn’t the only bold announcement the Fed made. In a report released the same day, titled “Economic Projections“, they predicted that by 2018 they …

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Fed rate hike is the beginning of the end

Janet Yellen Interest Rates Federal Reserve

From Filip Karinja, for Birch Gold Group With the Federal Reserve set to meet next week to vote on what to do with interest rates, many are speculating that we may see a rate hike. This is something Janet Yellen has hinted at over the past few months but has kept delaying. Should …

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Federal Reserve cries wolf on interest rates yet again

Federal Reserve Janet Yellen

The Federal Reserve has once again found a convenient excuse for why they again won’t raise rates, but “may do so in December“. Time after time in recent months, they say they will raise rates in the future — most likely to give the illusion that the economy has recovered from the …

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8 signs that a global economic crisis is coming soon

When will the economy collapse

When the banking crisis crippled global markets seven years ago, central bankers stepped in as lenders of last resort. Profligate private-sector loans were moved on to the public-sector balance sheet and vast money-printing gave the global economy room to heal. Time is now rapidly running out. From China to Brazil, …

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Ex-UBS & Citigroup trader jailed 14yrs for Libor manipulation

Tom Hayes Libor manipulation interest rate

A former UBS and Citigroup yen derivatives trader, Tom Hayes, has been sentenced to 14 years in jail after becoming the first person to be convicted by a jury of rigging the Libor interest rate. In a landmark case, 35yo Hayes was convicted of eight counts of conspiracy to defraud. Sentencing him at London’s Southwark crown court, Mr Justice …

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New ad from Australian bank will shock you

ANZ

If you’re looking around right now for a new bank account that pays a reasonable rate of return, ANZ bank has a hell of a deal for you: 0%! That’s right. ANZ is offering its depositors absolutely zero interest. Now, a bank paying 0% isn’t exactly abnormal in today’s banking environment. But …

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European Central Bank cuts interest rate to below zero

ECB euro symbol

The European Central Bank lowered its deposit rate to -0.10% as the continent battles deflation after many failed monetary policy attempts. The bank said more extraordinary tools can can be used to prevent the derailment of economic recovery. The European Central Bank (ECB) cut its main refinancing rate to 0.15 percent from …

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