• Wall Street: Powell goes hiking

    14 days ago - By Business Insider

    Hi, Aaron Weinman here. The Fed raised rates on Wednesday. Let's unpack what that means for investment banking. Vamos! If this was forwarded to you, sign up here. Download Insider's app here. Federal Reserve Chair Jerome Powell spoke at the National Association for Business Economics on Monday. Anadolu Agency/Getty Images 1. The Fed raised its benchmark interest rates by three-quarters of a percentage point on Wednesday to a range of 1.5%-1.75%. It's the most aggressive hike since February 1994 - the same month President Bill Clinton lifted the US trade embargo against Vietnam. When...
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  • Bank of England hikes interest rates to 13-year high as inflation nears 10%

    14 days ago - By Business Insider

    The Bank of England is led by Governor Andrew Bailey. Dan Kitwood/WPA Pool/Getty Images
    The Bank of England hiked interest rates by 25 basis points, or 0.25 percentage points, to their highest level in 13 years.
    The BoE's move Thursday came after the Federal Reserve hiked by 75 basis points in the biggest move since 1994.
    Central banks around the world are grappling with the tricky combination of red-hot inflation but cooling growth.
    The Bank of England raised interest rates by 25 basis points or 0.25 percentage points Thursday, the latest step in its ongoing effort to tame UK inflation...
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