The Trump administration will offer federal student loan borrowers a 1% interest rate reduction if they sign up for autopay, starting July 1. Borrowers have until Sept. 30 to enroll for the discount, which lasts until June 30, 2028.
The U.S. Department of Education will temporarily increase the interest rate discount for student loan borrowers who enroll in automatic payments to 1 percentage point, starting July 1, 2026, lasting two years. This aims to encourage repayment and improve the federal student loan portfolio.
Federal Reserve Governor Lisa Cook faced over $1.3 million in legal and security costs due to attacks from the Trump administration, including accusations of mortgage fraud by Bill Pulte. Cook denied the claims, asserting political motivation. A Supreme Court case stemming from her firing by Trump could impact the Fed's independence.
The Bank of England governor warns of increased consumer costs due to the Middle East conflict, despite falling oil prices post-US-Iran peace deal. Interest rates remain at 3.75% as the MPC balances inflation risks with economic slowdown fears.
The Bank of England's Monetary Policy Committee (MPC) voted 7-2 to hold interest rates, citing persistent inflation pressures from higher energy prices. While inflation expectations have lowered, they remain above the 2% target, with concerns over the "scale and duration" of the energy price shock influencing the decision.
Bitcoin fell around 2% to $64,300 after the Federal Reserve's FOMC meeting indicated a potential rate hike by year-end, shifting from previous expectations of cuts. Major stock indices also declined, reflecting a broader risk-off sentiment.
The Indian government has approved an 8.25% interest rate for EPF deposits for FY2025-26, unchanged for the third year, benefiting over 7 crore members. Members can check their EPF balance via Umang app, EPF member e-sewa portal, missed calls, or SMS.
The Bank holds interest rates steady at 3.5% due to volatile oil prices and their impact on inflation, despite lowered year-end inflation expectations to 3.25%, still above the 2% target.
The Bank of England maintained its key interest rate at 3.75% on Thursday, balancing inflation concerns with weak economic growth. The decision, supported by most of the Monetary Policy Committee, comes as global inflation rises due to energy costs, with the UK particularly vulnerable. Despite a recent dip in UK inflation, a significant energy price cap increase is anticipated.
La Bank of England ha confermato i tassi d'interesse al 3,75% nella riunione odierna. L'inflazione resta al 2,8%, sopra il target del 2%. Calo della disoccupazione al 4,9%.
The Bank of England kept interest rates at 3.75% due to the economic impact of the Iran conflict, balancing potential inflation from oil supply disruptions with stronger-than-expected wage growth.
An expert believes the Bank of Russia will likely maintain its key interest rate at 14.5% during its upcoming meeting on June 19, citing global macroeconomic and geopolitical factors. While the market anticipates gradual easing, significant rate cuts are deemed improbable.
The Swiss National Bank (SNB) stated it's prepared to intervene in foreign exchange markets to prevent excessive appreciation of the Swiss franc. The central bank maintained its policy rate at 0% while noting a slight increase in inflation to 0.6% due to energy prices linked to the Middle East conflict.
UK unemployment dropped to 4.9% and wage growth accelerated in April, exceeding forecasts. Despite this, employers are cautious about hiring permanent staff due to Middle East instability. The Bank of England faces pressure to raise interest rates.
The Bank of England is widely expected to maintain its benchmark interest rate at 3.75% for the fourth consecutive meeting. Inflation remains above target but has eased, influenced by global events including the US-Israel war with Iran, though future price rises are anticipated.
Fed Chair Warsh initiated changes, starting with a unanimous vote to hold interest rates steady. He is implementing new processes, including task forces on key Fed functions, aiming to influence policy through external experts and internal consensus-building. Warsh also withheld his economic forecast, devaluing the Fed's official projections and potentially altering future communications and transparency.
FOMC members' forecasts reveal a significant shift, with nine now predicting rate hikes in 2026, compared to none in March. The median dot plot also shows an upward revision for 2026 and 2027, indicating a more hawkish outlook.
The Dow Jones Industrial Average and Nasdaq experienced declines following the Federal Reserve's decision to maintain interest rates. SpaceX, now publicly traded, saw its shares fall 5%, marking its first drop.
The US Federal Reserve has decided to keep interest rates unchanged for the fourth time this year, under the new leadership of chair Kevin Warsh. Despite positive news for US borrowers, the ASX is anticipated to open lower following this announcement.
The Federal Reserve kept interest rates unchanged but introduced several surprises, including the absence of Chairman Kevin Warsh's "dot plot" and the formation of five task forces. Markets reacted negatively to the uncertainty, with major averages declining.
US stock markets fell Wednesday after the Federal Reserve kept interest rates unchanged but signaled a possible hike by year-end. The Fed cited economic expansion despite Middle East conflict uncertainty and elevated inflation, with nine members projecting at least one rate increase.
The US Federal Reserve kept interest rates unchanged on Wednesday. Policymakers, however, anticipate a rate hike later this year due to persistent inflation concerns. New projections show nine officials expect a hike by the end of 2026.
President Trump, previously critical of Fed policy, now supports Federal Reserve Chair Kevin Warsh's independence, stating he's "alright" with potential rate hikes and praising Warsh's leadership after months of attacking his predecessor, Jay Powell.
The U.S. Federal Reserve kept its benchmark interest rate unchanged at 3.5-3.75 percent, marking its fourth consecutive pause. At least half of policymakers anticipate a higher rate by year-end, with projections showing a rise in expected federal funds rate and PCE inflation.
