Economy News
Economic news covering Fed interest rate decisions, inflation data, jobs reports, GDP growth, and macroeconomic trends affecting the stock market.
Mortgage Rates Dip to Seven-Week Low, Yet Annual Costs Still Up $284
Mortgage rates eased to a seven-week low, but homebuyers still face a $284 monthly premium versus last year. Freddie Mac's weekly average dipped to 7.24%.
Australia's Cash Rate Hits 4.6%, Mortgages Feel the Pinch
The Reserve Bank of Australia lifted its cash rate to 4.60%, the highest since 2011, adding A$91 monthly to a typical A$600,000 mortgage as inflation persists.
Canada's OAS October Boost: 1.4% Increase, But Final Rates Pending
Canada's Old Age Security (OAS) will rise 1.4% in October, pushing estimated maximum monthly payments to C$762.50 for ages 65-74 and C$838.75 for 75+. Official rate card still pending.
Atlantic Canada Panel Urges Unified Economy and C$1B Growth Fund
A federal panel proposes unifying Atlantic Canada's economy with a C$1B growth fund and regional power operator, targeting C$25B in power investment by 2035.
Australia's Jobless Rate Hits 4.6%, RBA Rate Hike Still Expected
Australia's unemployment rate climbed to 4.6% in August, its highest in nearly five years, even as the economy added 39,500 jobs. Despite the softness, traders still price a 96.5% chance of an RBA rate hike next week.
Australia Faces A$6B Extra Interest Costs as Yields Stay High
RBC Capital Markets estimates Australia's federal debt-interest costs could rise by A$6 billion over four years, as bond yields remain near 5.3%, adding pressure on the budget and financial markets.
UK Budget Proposal: £600 Tax Relief for Workers, 45% CGT for Investors
A reported UK Budget proposal could lift personal allowance by £3,000, saving basic-rate taxpayers £600, but raise capital gains tax to 45%.
UK August Borrowing Blows Past Forecast by £3.5B
Britain borrowed £18.3bn in August, £3.5bn more than the OBR expected, lifting the fiscal year-to-date deficit £8.1bn above plan and raising the stakes for the October 28 Budget.
UK Food Price Surge Forecast as El Niño Threatens Supply Chains
The FDF predicts UK food inflation will climb to 6.4% by July 2027, driven by El Niño and other cost pressures, testing major grocers.
Australia's 40-Year Outlook: Slower Growth, Higher Spending Weigh on ASX
Australia's latest Intergenerational Report forecasts slower population and GDP growth over 40 years, while government spending rises. The ASX 200 barely moved, but rate hike odds remain high.
Pension Boost Offset by Higher Deeming Rates in Australia
Australia's Age Pension increases by A$36.80 for singles and A$55.60 for couples, but higher deeming rates could offset some gains.