interest rates

The Russian central bank has dismissed rumors of freezing retail bank deposits.Freezing deposits would harm financial stability and undermine trust, the bank said.Last year, the central bank hiked rates to 21% in an attempt at cooling Russia's wartime economy.Russia's central bank has taken to Telegram to publicly dismiss rumors that its citizens' bank deposits may…

It's never been tougher for first-time homebuyers to break into the market.Supply shortages, high mortgage rates, and skyrocketing prices are creating barriers to entry.Prospective homebuyers are downsizing, house hacking, or buying fixer-uppers as a result.It might seem cliché to reminisce about the good old days, but when it comes to the housing market, things arguably…

The average American expects to spend over $2,000 on holiday costs this season, one survey found.Some respondents predicted they would be paying off the debts they accrue into May next year.Personal finance guru Dave Ramsey advised saving before the holidays and setting a strict budget.The most wonderful time of the year often comes with a…

Russia's central bank has kept the key interest rate at 21%, bucking expectations of a hike to 23%.Russia's top central banker said she is eyeing "excessive cooling" in the economy.Russia's high interest rates are impacting business investments and profits, business leaders complain.Russia's economy has been running hot on wartime activities, prompting the country's central bank…

The Federal Reserve cut interest rates in its final decision of the year.It also penciled in two interest-rate cuts in 2025.Still, Powell said that Trump's proposed trade policies pose economic uncertainty.President-elect Donald Trump's potential trade policies could change the Federal Reserve's plans in the coming year.On Wednesday, the Federal Open Market Committee announced its third…

The infamous "lock-in" effect that's restricting home supply may be going away next year.Realtor.com's chief economist expects more homeowners to list their homes for sale in 2025.High levels of home equity and life changes will encourage home sales, Danielle Hale said.2024 has been a tough year for homebuyers.Affordability levels are still low with elevated home…

Russian President Vladimir Putin has urged his government and central bank to curb Russia's 8% inflation rate.Russia's inflation target is 4%, with interest rates at a record high of 21%.The high interest rates are pressuring businesses and hurting the cash savings of ordinary people.Russian President Vladimir Putin appears to be signaling to his government and…

In August, US workers quit their jobs at the lowest rate since 2015, excluding a dip in April 2020.A hiring slowdown across the US has left job switchers with fewer opportunities.It's making it harder for some workers to land raises and promotions. Thanks for signing up! Access your favorite topics in a personalized feed while…

Steve Schwarzman doesn't expect a recession whether Donald Trump or Kamala Harris win the election.The Blackstone CEO said the US economy looks robust and both candidates have pro-growth policies.The Federal Reserve cut interest rates in September and signaled that more cuts are coming. Thanks for signing up! Access your favorite topics in a personalized feed…

Federal Reserve chair Jerome Powell strongly hinted that interest rates are likely coming down soon during his much-anticipated remarks on Friday morning at the annual gathering of central bankers in Jackson Hole, Wyoming.Markets and many economists believe it's all but certain the Fed will cut rates in September for the first time since post-pandemic supply chain disruptions…