Homebuyers are advised to carefully evaluate their financial plans and consider the stability offered by fixed-rate mortgages, experts said
rising interest rates
Latest in rising interest rates
inflation
US Fed likely to hold interest rates steady in today’s meeting
From March 2022 through May 2023 the Fed raised rates at 10 successive meetings – by anywhere from a quarter to three quarters of a point – as it fought the worst rise of inflation since the early 1980s
Central Bank of Egypt
Egypt’s central bank hikes interest rates by 100 basis points
The lending rate is increased to 20.25% and the deposit rate to 19.25%
Abu Dhabi real estate
UAE’s mortgage market witnesses surge in refinancing due to rising interest rates
The hardening of interest rates is encouraging buyers to take the leap to ownership by locking-in better long-term rates before it’s too late
Bahrain
UAE, other GCC nations hike interest rates as US Fed benchmark hits 22-year high
GCC central banks hike interest rates following the Fed’s decision to take benchmark borrowing costs to their highest level since 2001
fed interest rate increase
US Federal Reserve raises interest rates by 0.25% amid inflation concerns
The hike to the 5.25-5.50 % range – the Fed’s 11th in its last 12 meetings – is the highest in 22 years
Central Bank of Egypt
Central Bank of Egypt raises key interest rates by 2% for the first time in 2023
This is the first increase this year, as the CBE maintained its unchanged interest rates during its February meeting
fed interest rate increase
Libor surpasses 5% for first time in 15 years amid Fed rate hike speculations
Much of the recent surge in Libor has been driven by expectations of US Fed policy tightening
bank loans
Indian banks’ margins to face pressure in FY24, says Fitch Ratings
The agency raising doubts on profitability of Indian banks assumes added significance amid the increased scrutiny they are subjected to of late over their exposure to the embattled Adani Group
bond market
Time to turn to the GCC bond market
GCC bonds set to benefit as fixed income sets off on the road to recovery
Central Bank of Egypt
Egyptian central bank beat market expectations with a 3% rate hike
The hike is more than the 200 basis points predicted by an analysts’ poll earlier
Central Bank
Kuwait’s central bank announces 0.5 percent hike in discount rates to 3.5%
Indian central bank also announced a 35 basis points hike in lending rates to 6.25 percent on Wednesday
bilateral debt
World’s poorest countries paid $62bn in debt service payments in 2022: World Bank
China is expected to account for 66 percent of the debt service payments to be made by IDA countries on their official bilateral debt
Bank of England
Bank of England warns UK to enter longest ever recession
The raised interest rates by the Bank of England is the biggest hike since 1989
Abu Dhabi Securities Exchange
UAE financial market ends in green, Saudi in red amid interest rate hike
Market analysts attributed the reason for the upbeat sentiments in UAE market to the robust Q3 corporate earnings, though there was caution persisting on interest rate hike decision
Central Bank of Egypt
Egyptian pound plummets, stock market rebounds after 2% rate hike by the central bank
The bank also announced the start of a ‘durably flexible exchange rate regime’, which will measure the Egyptian pound against other foreign currencies
Abu Dhabi bourse
Interest rates hike impacts UAE bourses, with DFM closing 0.77 percent down on Thursday
The Abu Dhabi bourse, however, ended almost flat