Latest news with #interestrate
Wall Street Journal
a day ago
- Business
- Wall Street Journal
Norges Bank Surprises With Rate Cut and Hints at Further Easing This Year
Norway's central bank unexpectedly cut its key policy rate to 4.25% and hinted at further easing later this year as inflation begins to move lower. Economists polled by The Wall Street Journal had expected Norges Bank to remain on hold at 4.5%, given that economic growth is picking up, wages are rising and inflation remains elevated.
Yahoo
3 days ago
- Business
- Yahoo
Notice on Convocation of Uab 'Orkela' Bondholders' Meeting on 10 July 2025 (ISIN Code Lt0000405961)
Please be informed that, at the initiative of UAB "Orkela" (company code 304099538, registered address at Jogailos St. 4, Vilnius, Lithuania) (the Company) and by the decision of the bondholder's representative UAB "AUDIFINA" (company code 125921757, registered address at A. Juozapavičiaus st. 6, Vilnius, Lithuania) (the Trustee), a meeting of the bondholders of the Company's bond issue, ISIN code LT0000405961 (the Bonds), will be held on 10 July 2025 at 10:00 AM (the Meeting) at the St Jacobs Complex, Vasario 16-osios str. 1, Vilnius. The Company initiated the convening of the Meeting due to the high likelihood that, by the Redemption Date, the full completion of the St. Jacob's building complex, located at Vasario 16-osios g. 1, Vilnius, will not be registered in accordance with all applicable procedures. Given the potential impact this may have on the Company's financing capabilities, the Company is requesting an extension of the redemption deadline. Accordingly, the Company seeks approval from the Bondholders to extend the redemption date of the Bonds by three months, from the originally scheduled date of 19 July 2025 to 19 October 2025. For the final interest period (19 July 2025 to 19 October 2025), the Company will pay a higher annual interest rate of 9%. The Company emphasizes that the first-ranking mortgage on the real estate, established for the benefit of the Bondholders, will remain in full effect. A notice regarding the convening of the Meeting, which includes the agenda, the Company's proposed decision for the Meeting, and other matters, is attached to this notice (along with the general voting ballot). These documents are also published on the Trustee's website at and on the Company's website at We kindly ask all Bondholders to attend the Meeting and express their will regarding the Company's proposed decision for the Meeting. If attendance is not possible, we kindly request that you consider voting in advance by completing the general voting ballot and submitting the document confirming your right to vote (and if applicable, the basis of representation) to the Trustee no later than 14:00 (Vilnius time) on 9 July 2025. The documents may be (i) delivered or sent by registered mail to A. Juozapavičiaus st. 6, Vilnius, Lithuania, or (ii) if the general voting ballot is signed with a qualified e-signature, sent along with the document confirming your right to vote (and if applicable, the basis of representation) by email to obligacijos@ If you have any questions regarding the notice (and its annex), the Meeting, or the items to be discussed at the Meeting before the scheduled date, please feel free to contact the Company (via email at info@ or the Trustee (via email at obligacijos@ Anastasija PocienėDirector Attachments Orkela_Isankstinio balsavimo biuletenis_V.2 2025 06 17 Pranesimas apie obligaciju savininku susirinkimaError while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Reuters
13-06-2025
- Business
- Reuters
Bank of Mexico's Heath wants inflation reversal before more major rate cuts
MEXICO CITY, June 13 (Reuters) - Mexico's central bank should avoid cutting its benchmark interest rate by 50 basis points until inflation resumes a clear downward trajectory, Deputy Governor Jonathan Heath told Reuters, adding his view is in the minority among the five-member board. Despite concerns over inflation, Heath said he believes the central bank will vote at the end of June to lower the key interest rate by that magnitude in what would be its fourth consecutive cut of that size, a decision he said he is skeptical of. "I believe it is time to pause, and not continue lowering the rate at the magnitude we have done in recent decisions, in order to give ourselves time to better evaluate the evolution of the data," Heath said in a written response to questions from Reuters. Debate over any rate cut underscores a key challenge confronting Mexico's central bank as it seeks to ease rising inflation while also stimulating Mexico's sluggish economy. Headline inflation in Mexico accelerated to 4.42% in May, exceeding the upper end of the central bank's target range of 3% plus or minus a percentage point. Core inflation, which excludes volatile items like some foods and oil, rose to 4.06%, its highest level in almost a year. Still, Banxico, as the central bank is known, currently forecasts inflation will fall in the third quarter before converging to its target by the third quarter of 2026. Heath said a majority of Banxico's board members believe the pickup in inflation is a "temporary phenomenon." "While I am a bit skeptical that inflation will behave as the official projection anticipates, it is clear to me that my opinion is in the minority," he said, adding he supports a "more cautious, more prudent" approach until inflation "clearly resumes a downward trajectory consistent with a convergence towards our 3% target." In May, Banxico cut its interest rate to 8.5% and reiterated it could make a further reduction depending on inflation. The bank also emphasized that a slowdown in the economy is expected and lowered its GDP growth forecast to 0.1% for 2025 from a previous 0.6% estimate. A dozen economists surveyed by Reuters expect Banxico to move forward with a rate cut of 50 basis points at its next meeting on June 26.
Reuters
11-06-2025
- Business
- Reuters
Mexico's central bank may pause rate cuts, deputy governor Heath says
MEXICO CITY, June 11 (Reuters) - Mexico's central bank may pause cuts to its benchmark interest rate in the face of an inflationary rebound, deputy governor Jonathan Heath said in an interview with local newspaper El Economista published on Wednesday. Mexico's annual inflation rate accelerated in May and exceeded the upper-end of the central bank's target range of 3% plus or minus one percentage point. "We expect this small rebound to be temporary and inflation to resume its downward trajectory in the coming months", Heath said. The inflationary rebound has created an uncertain landscape for borrowing costs in Latin America's second-largest economy, but Banxico is expected to cut its key interest rate by another half percentage point in June. Analysts believe the pace of rate cuts could slow if prices remain under control.
The Sun
04-06-2025
- Business
- The Sun
Huge change to compensation rules plotted by financial ombudsman after spike in complaints
A HUGE change to compensation rules is being plotted by the financial ombudsman after a spike in complaints. The Financial Ombudsman Service (FOS) is proposing to change the interest rate applied to the compensation awarded to consumers, to tie it to the Bank of England base rate. 1 If someone is found to have lost out because of their financial firm's errors, the ombudsman can order the business to pay compensation, plus interest. There are different types of interest businesses can be directed to pay, and one of these compensates consumers for being 'deprived' of money (not having it available to use) such as when it finds a claim has been wrongly turned down by a financial firm. The ombudsman can currently direct businesses to pay 8% interest on top of the compensation for the period their customer was out of pocket. It can also tell a business to pay 8% interest if it does not pay compensation on time. But the service said feedback suggests the interest rate 'could be better aligned with, and reflect, market conditions'. For new complaints submitted to the service, it is recommending changing the interest rate so it tracks against the Bank of England's average base rate plus one percentage point. The base rate would be calculated as an average rate over the period that the money was due until the date redress payment is made. The consultation is gathering feedback on this recommendation as well as other potential options and proposals for implementation. The Bank of England base rate currently sits at 4.25%, its lowest level in two years. Economists have speculated that two more reductions could happen this year. James Dipple-Johnstone, interim chief ombudsman at the FOS, said the service welcomes feedback 'on whether our proposed new interest rate strikes the right balance between simplicity, fairness and proportionality". The consultation will run until July 2 and the service said further proposals around its service will be brought forward in the summer.
