Interest rates news

Banxico increases the benchmark interest rate by 75 basis points, bringing it to 9.25% and pledging to maintain a hawkish stance until inflation is on track to converge to the target.

Forex investors are trying to take advantage of the recent collapse of all currencies against the dollar, which jumped to its highest level in 20 years due to expectations of a US interest rate hike.

The Turkish lira stabilized near its lowest level ever against the US dollar, as investors followed the statements of Turkish President Recep Tayyip Erdogan yesterday.

Some economists predict the Bank of England will raise the interest rate to as much as 5.8% by next spring.

The Bank of England said it was "monitoring developments closely" after the pound hit a record low.

Gold prices are finding some relief in Asia-Pacific trading, but the threats from surging Treasury yields and the US Dollar weigh heavy on sentiment. PCE and economic data are in focus for bullion traders.