Mortgage rates in the UK have been going up for months, but recorded a sharp increase in response to the fall-out from the mini-budget nearly two weeks ago. First-time buyers and those looking to remortgage are affected.
Brazil's central bank raised its benchmark interest rate 50 basis points to a record 13,75%, (the highest since January 2017), anticipating that the tightening cycle, may not be over given the stubborn high domestic inflation and “adverse and volatile” global situation.
Uruguay's central bank on Tuesday announced an increase of 75 basis points to 9,25%, in its monetary policy reference rate, meaning also the bank has entered the contractive phase, as so many other Latin American central banks, in an effort to rein in inflation.
Private estimates fell short in Chile on Thursday when the Central Bank monetary policy desk announced an increase in the base rate of 125 points, to 8,25%, the highest since September 2008 in an effort to contain the strong sustained inflation. According to the bank's chair, Rosanna Costa the monetary policy desk decision was unanimous.
As anticipated Brazil's central bank, in a unanimous decision, raised interest rates by 1% to 12,75%, the highest in five years, to contain double digit inflation. However policymakers suggested their tenth straight rate increase would not be the last in what has been one of the world’s most aggressive ongoing rate hike cycles.
The Federal Reserve announced on Wednesday it raised its target for short-term interest rates a quarter-percentage point to 0,50% and anticipated six/seven more rate increase for the rest of 2022, as the US faces the highest inflation in four decades.
Argentina's Central Bank (BCRA) is considering raising the interest rate, in accordance with a suggestion from the International Monetary Fund (IMF), it was reported Wednesday in Buenos Aires.
The Chilean Central Bank's Monetary Policy meeting on Tuesday raised the reference interest rate 125 base points to 4%, the highest since June 2014. The decision came as no surprise for markets since the bank is determined to contain inflation, (6,7% in the twelve months to November) and anticipated it will continue on the path for as long as necessary.
The Monetary Council of the Chilean central bank surprised markets on Monday by deciding to increase the basic interest rate 75 base points to 1,5%, the highest jump since August 2001. According to a bank release, the decision from the council was unanimous, and well beyond market expectations that had estimated an increase of 25 to 50 base points.
The Chilean central bank made public on Friday its latest Survey of Financial Operators, ahead of the Monetary Policy meeting scheduled to take place next Tuesday when most market analysts anticipate the bank will decide on a 25 points increase to its basic Monetary Policy rate from 0,75% to 1%.