Page 20 - Interest Rates

Banks go slow on bond sales as rising interest rates push up costs

The decision to go slow on these fund-raising plans - despite the booming credit growth - came at a time when bond market conditions turned turbulent

Dollar suffers biggest plunge since 2009 as CPI smacks Fed bets

A slower pace of rate hikes could curb the dollar's rally this year which has weakened its Group-of-10 currency peers

Global banking is a bright spot

The world's financial system faces an intimidating set of challenges, but the lessons of the global financial crisis are holding banks in good stead

Pakistan govt to implement 'interest-free' banking system by 2027

In a significant move, Pakistan's Finance Minister Ishaq Dhar on Wednesday announced that the country would move towards an 'interest-free' banking system under the Islamic law by 2027. The announcement came with Finance Minister Dhar conveying the government's intention of withdrawing its appeals against the Federal Shariat Court's April decision of eliminating interest from the country in five years, the Dawn newspaper reported. According to the Federal Shariat Court (FSC), the prevailing interest-based banking system in Pakistan was against the Sharia law as interest was absolute in all its forms according to the injunctions of Islam. "With the permission of the prime minister and consultation with the State Bank of Pakistan governor, I'm announcing on behalf of the federal government that the SBP and National Bank of Pakistan will withdraw their appeals from the Supreme Court and our government will fully try to as quickly as possible implement an Islamic system in Pakistan," Da

Indian Overseas Bank to revise rates on retail term deposits from Thursday

Public sector Indian Overseas Bank would increase the interest rates on its retail term deposits up to 60 basis points with effect from November 10, the city-based bank said on Wednesday. With the revision in interest rates, domestic and non-resident depositors would get a hike of up to 7.15 per cent for deposits with period of 444 days, three years and above. Term deposits for tenure of 270 days to one year and one year to three years, the interest rates have been increased by 60 basis points, the bank said in a statement here.

Rupee surges 48 paise to close at 81.92 per dollar, highest in a month

Stronger yuan, resumption of FPI flows into stocks bolster rupee

Bandhan Bank offers 7.5% interest rate on retail FDs for limited period

Rate applicable to both fresh deposits and renewals of up to Rs 2 crore for a tenure of 600 days, seniors to get 0.5% more

Customer protection the core of new RBI microfinance rules: Dy governor Rao

These measures, along with a cap on repayment obligations and steps to check over-indebtedness introduced by the regulator, will eventually bring down interest rates for the borrowers, he says

Following Federal Reserve goes out of fashion in 'messier' world economy

Bank of England the latest to push back against hawkish bets; Fed seen as most aggressive, driving record gains for dollar

Geopolitical situation a bigger worry for markets than rate hikes: Analysts

According to reports, North Korea has fired at least one ballistic missile toward its eastern sea, the latest in a series of weapons tests that have raised tensions in the region

Bank of England makes biggest rate hike in 30 years to beat inflation

The Bank of England has announced its biggest interest rate increase in three decades as it tries to beat back stubbornly high inflation fuelled by Russia's invasion of Ukraine and the disastrous economic policies of former Prime Minister Liz Truss. The bank boosted its key rate by three-quarters of a percentage point Thursday, to 3%, after consumer price inflation returned to a 40-year high in September. The aggressive move to prevent inflation from becoming embedded in the economy was in line with market expectations after a more cautious half-point increase six weeks ago. The interest rate decision is the first since Truss' government announced 45 billion pounds ($52 billion) of unfunded tax cuts that sparked turmoil on financial markets, pushed up mortgage costs and forced Truss from office after just six weeks. Her successor, Rishi Sunak, has warned of spending cuts and tax increases as he seeks to undo the damage and show that Britain is committed to paying its bills. The ra

Fintechs shadow banks of current time, are fragile: Douglas W Diamond

Professor at the University of Chicago's Booth School of Business, Diamond received the prize along with Philip Dybvig and former Fed chair Ben Bernanke

Borrowing costs bite: Interest-rate surge hurts corporate profits

Interest expenses of listed firms (ex-BFSI) were up 18.5% YoY in Q2FY23

Bank of India launches special deposit scheme; raises interest on others

Apart from the special deposit scheme, Bank of India has raised interest rate on its existing 555-days fixed deposit scheme to 6.30 per cent

Rupee marks biggest monthly losing streak since 1985, braces for Fed move

Oil importers' dollar purchases, breach of technical levels drag rupee lower

A roller-coaster ride: FPIs propel Nifty to reclaim 18K; Sensex tops 60K

The Sensex ended above 60,000 and the Nifty above 18,000 for the first time since September 14

The case for structural financial deglobalisation

Attempting to minimise the costs of their Faustian bargain, emerging-economy policymakers have pinned their hopes on international coordination of monetary policy

US economy rebounds as businesses and consumers show resilience

Records first increase this year at 2.6%, following two quarterly contractions

After a good ride, tide turns for low-cost CASA in September quarter

The share of CASA saw a slight rise to 56.27 per cent in September 2022 from 56.08 per cent in June 2022 and 53.91 per cent a year ago

Gold hits near 2-week high on bets for easing interest rate hikes

Gold prices jumped over 1% on Wednesday as the dollar and bond yields weakened amid signs that the US Federal Reserve's aggressive rate hikes were dampening inflationary pressures