Author: Press Room
By Karen Brettell NEW YORK (Reuters) – The dollar fell on Wednesday after data showed U.S. consumer prices rose less than expected in March, raising expectations that the Fed is likely to stop hiking rates after a possible increase in May. The Consumer Price Index (CPI) climbed 0.1% last month, below economists’ expectations for a 0.2% gain, and down from a 0.4% increase in February. In the 12 months through March, the CPI increased 5.0%, the smallest year-on-year gain since May 2021. The CPI rose 6.0% on a year-on-year basis in February. Excluding the volatile food and energy components, the…
By Fergal Smith TORONTO (Reuters) -The Bank of Canada is expected to take in stride surprising recent economic strength and leave interest rates unchanged at its meeting on Wednesday, pinning its hopes on activity cooling as higher borrowing costs sink in, analysts said. Last month, the Bank of Canada became the first major global central bank to pause its rate-hiking campaign, after lifting its benchmark rate to a 15-year high of 4.50%. It said no further tightening would be needed if the economy slows, or even moves into a slight recession, as it expects. While inflation has cooled in recent…
Key News Overnight the Hang Seng Index and the Hang Seng Tech closed at +0.17% and -0.17% after US-listed China ADRs fell more than -4% yesterday! Let’s compare how Hong Kong’s most heavily traded closed in Hong Kong today versus their US-listed ADRs yesterday: Tencent gained +1.68% versus a -5.42% drop, Alibaba HK fell -1.98% versus a -5.93% drop, and Meituan closed flat at -0.08% versus a -5.61% drop. Other Hong Kong internet stocks versus their US ADRs were JD.com HK -2.03% versus -7.65%, Baidu HK +0.07% versus -0.21%, NetEase HK +0.71% versus -1.08%, and Trip.com HK -1.53% versus -4.91%.…
Key takeaways Recessions can be a good opportunity for would-be homeowners to secure some real estate But this isn’t a traditional recession, if we can call it that, and buyers face high interest rates on mortgages and lack of supply A home is a long-term investment, so timing the market isn’t always the best move Recessions: not a lot of fun in general, but there are some investment opportunities off the back of them, one of them usually being property. If it’s the right time for you to consider buying a home, you might be keeping a close eye on…
The Biden administation and a class of student loan borrowers filed legal briefs with the United States Supreme Court this week, urging the justices to reject a challenge to a landmark settlement that would provide $6 billion in student loan forgiveness and other debt relief. Here’s what borrowers need to know. Settlement Agreement Provides Billions In Student Loan Forgiveness The challenge stems from a settlement agreement reached between the Biden administration and a class of student loan borrowers to resolve Sweet v. Cardona, a years-long class action lawsuit over disputed Borrower Defense to Repayment claims. The Borrower Defense program allows…
Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. Based on data compiled by Credible, mortgage rates for home purchases are mixed with two key rates holding steady and two key rates falling since yesterday. Rates last updated on April 13, 2023. These rates are based on the assumptions shown here. Actual rates may vary. Credible, a personal finance marketplace,…
The number of Americans filing for unemployment benefits rose more than expected last week, evidence the labor market is beginning to soften in the face of higher borrowing costs. Figures released Thursday by the Labor Department show initial claims for the week ended April 8 rose by 11,000 to 239,000. That is above the 2019 pre-pandemic average of 218,000 claims.Continuing claims, filed by Americans who are consecutively receiving unemployment benefits, fell slightly to 1.81 million for the week ended April 1, a decrease of 13,000 from the previous week. MAJORITY OF WORKERS REGRET QUITTING DURING ‘GREAT RESIGNATION’ The labor market…
Donald Trump said he is being deposed Thursday in New York City as part of the state attorney general’s $250 million civil lawsuit alleging widespread fraud by the former president and his company.Trump announced on social media overnight that he had “just arrived in Manhattan for a deposition in front of” New York Attorney General Letitia James as part of the sweeping lawsuit.In another post Thursday morning, Trump said he was “heading downtown” to be deposed. He accused James of leaking that the appointment was scheduled at 9:30 a.m. ET.His trip marks the second time in less than two weeks…
If you’re a job seeker, here’s a piece of advice you likely won’t hear from anyone else: Never ever ask an employer what their remote work policy is during the job interview.Before you say, “OK, boomer. Times have changed!”, know that I’m actually a firm believer in hybrid and remote work. It removes much of the pointless face time and unnecessary friction of office life. Plus, people who have more agency in their lives are generally happier.But it’s time to face reality. As the Federal Reserve continues its rate-hiking campaign to tame inflation, millions of jobs could be at risk…
US inflation at the wholesale level continued its downward slide in March with annualized price increases sinking dramatically to 2.7% from an upwardly revised 4.9%, according to the Producer Price Index released Thursday by the Bureau of Labor Statistics. It’s the lowest annual level for the key inflation gauge since January 2021. On a monthly basis, producer prices slumped by 0.5%, driven by falling goods prices, specifically lower energy prices. Prices for fresh and dry vegetables also fell, while the price indexes for categories such as light motor trucks, chicken eggs and meats moved higher. Economists were expecting annual inflation,…
