Page 4 - Interest Rates

Despite interest rate hikes, listed realty firms see dip in cost of debt

Debt cost of eight listed players at lowest since pandemic

Global markets remain at make-or-break stage after US Fed's rate hike

It was a tough week for markets in India and the world. Interest rates were raised in the US on expected lines and the commentary post the meeting were not enough to soothe the nerves

Mexico's central bank hikes interest rate by 50 basis points to 10.50%

The central bank of Mexico (Banxico) raised the key interest rate once again to counter domestic inflationary pressure and the impact of a flagging global economy

Top Headlines: Fed lifts rates, quick commerce in funding winter, and more

Business Standard brings you the top headlines at this hour

Real rates turn positive as inflation eases; peak in sight: Report

India's real interest rate has turned positive after headline retail inflation eased below 6% for the first time this year, analysts said, suggesting that the peak policy rate is now close

'Banks not required to inform about rate change in floating plan': NCRDC

NCDRC said that the borrowers have already agreed to such fluctuations while executing loan agreements

Indian Overseas Bank revises interest rates on domestic, foreign currency

Public sector Indian Overseas Bank has revised the interest rates on its domestic, foreign currency non-resident (banking) term deposits with immediate effect, the city-based lender said on Saturday. Depositors of domestic, non-resident external would receive interest rates up to 7.30 per cent by opening a term deposit with a tenure of 444 days and up to 7.25 per cent for a period of three years and above, Indian Overseas Bank said in a statement here. Foreign currency depositors shall be paid an interest rate up to 4.25 per cent by opening FCNR (B) term deposits with the bank, it said.

Bank of Canada hikes policy interest rate by 50 basis points to 4.25%

The Bank of Canada has increased its benchmark interest rate by 50 basis points to 4.25 per cent

Why India's growth should stay resilient

Indian property cycle has multi-year pent-up demand and is more dependent onpricing sentiments (now strengthening) instead of mortgage rates.

No pause in sight: A 25-basis-point rate increase in Feb can't be ruled out

The key takeaway from the governor's 3,000-word statement is 'the battle against inflation is not over'

Oil prices open mixed in early trade on economic fears, rate-hike prospects

Brent crude futures rose 17 cents, or 0.2%, at 0107 GMT to $79.52 a barrel. Last session the benchmark fell below $80 for the second time in 2022

Sundaram Home Finance to revise interest rates on fixed deposits from Dec 1

Sundaram Home Finance would revise its interest rates on fixed deposits for trusts, individuals and senior citizens with effect from December 1, the company said on Tuesday. Accordingly, the city-headquartered firm, a wholly owned subsidiary of Sundaram Finance Ltd, would revise the rates by 50 basis points across trusts, individuals 7.15 per cent as against 6.65 per cent, senior citizens 7.50 per cent as against 7 per cent, on deposits for 12 months. The company, for senior citizens, would revise the interest rates to 7.50 per cent as against 7.35 per cent for tenures of 24 months, 7.80 per cent from 7.65 per cent (36 months) and 8 per cent from 7.90 per cent for 48 months. For Trusts, the interest rates have been increased to 7.15 per cent for 24 months earlier 7 per cent, 7.80 per cent as against 7.65 per cent for 36 months and 8 per cent for tenures of 48 months as against 7.90 per cent. The rates, for individuals other than senior citizens, have been increased to 7.15 per cent

Fusion Micro Finance reported multifold jump in Q2 profit at Rs 95 crore

Fusion Micro Finance has reported a multi-fold jump in net profit to Rs 95 crore for the second quarter ended September 30, mainly driven by higher interest income. The recently listed microfinance entity had posted a net profit of Rs 3.2 crore in the same quarter a year ago. This is the first quarterly number published by the company after it was listed on the stock exchanges on November 15. Its total income increased by 69.34 per cent to Rs 452.3 crore in the second quarter against Rs 267.1 crore in the year-ago period, Fusion Micro Finance said in a statement on Tuesday. The net interest income (NII) doubled to Rs 241 crore from Rs 110.4 crore in the same quarter of the previous financial year. Its asset under management (AUM) grew 54.46 per cent to Rs 8,047.1 crore compared to Rs 5,209.7 at the end of September 2021. "Profit After Tax (PAT) increased by 2,860.35 per cent year-on-year from Rs 32.11 million to Rs 950.57 million, delivering the highest quarterly PAT till date,"

Strong bank loan growth in FY23 despite higher interest rates: Fitch

Fitch Ratings on Monday said India's bank credit will see strong growth in current financial year despite effects of higher interest rates. It said the strong loan growth should benefit net revenue, particularly as it will be coupled with wider net interest margins. "We see bank credit expanding by around 13 per cent in FY23, up from 11.5 per cent in FY22. The acceleration will be driven by the normalisation of economic activity after the COVID-19 pandemic, and high nominal GDP growth, which we expect to boost demand for retail and working-capital loans," Fitch said in a statement. Fitch forecasts India's real GDP growth at 7 per cent in 2022-23. It said Indian banks generally remain open to additional capital-raising to fund growth, despite the rise in rates. "Private banks are generally better than state banks at capital planning, although moves to raise fresh equity are likely to be opportunistic and incremental," Fitch added. The rating agency expects greater competition for .

Pak stocks crash after sudden interest rate hike to highest since 1999

The Pakistan Stock Exchange (PSX) crashed at the opening bell today in reaction to the State Bank of Pakistan's (SBP) unforeseen hike on November 25

Economists see 35 bps rate hike, then a pause: BS monetary policy poll

Some expect a slight reduction in GDP growth forecast

Nifty, Sensex close at fresh lifetime highs after sharp late surge

US Fed minutes indicate slower pace of rate hikes, investors cheer

New Zealand hikes interest rate to the highest since 2009 to curb inflation

New Zealand's central bank hiked interest rates on Wednesday by a record amount as it tries to get inflation under control. The Reserve Bank of New Zealand increased its benchmark rate by three-quarters of a point to 4.25 per cent. It's the first time the bank has raised rates by more than a half-point since introducing the Official Cash Rate in 1999. The new rate is the highest in New Zealand since early 2009. New Zealand's inflation rate is currently 7.2 per cent, well above the bank's target of 1 per cent to 3 per cent. The nation's unemployment rate is 3.3 per cent. The bank also sharply revised upwards its projected peak for its benchmark rate, which it now expects it to reach 5.5 per cent next year before it decreases. It predicted a sharp rise in unemployment next year and for the economy to dip briefly into a shallow recession. The New Zealand dollar rose on the news and was trading at around 62 US cents. The US Federal Reserve and other central banks around the world hav

Top Headlines: Oz parliament okays FTA with India, RBI rate hike & more

The Australian Parliament on Monday ratified the Economic Cooperation and Trade Agreement (ECTA) with India, paving the way for implementing the deal as early as January 1, 2023

Key indicator suggests RBI may go for another 35 bps rate hike before pause

Swap rates decline post fall in US, India inflation