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Rate Hike

All articles tagged with #rate hike

business27 days ago

Bank of Japan Plans Rate Hike Amid Economic Concerns

The Bank of Japan is expected to raise interest rates to 0.75%, the highest in 30 years, as part of its policy normalization, despite Japan's economic contraction and ongoing inflation concerns. The decision aims to strengthen the yen and contain inflation, but may further slow the economy. Market focus will be on the BOJ's communication regarding the pace of future hikes and the neutral rate, amid ongoing debates about the timing and impact of these policy changes.

via CNBC|
#bank-of-japan#business#interest-rates
health4 months ago

Health Insurance Premiums Set to Rise Significantly Across Multiple States

Health insurance companies in Texas are requesting an average premium increase of 24% for ACA plans in 2026, driven by rising healthcare costs and the expiration of expanded tax credits, which could lead to higher costs for consumers and a potential shrinking of the marketplace, especially affecting rural, low-income, and elderly populations.

via The Texas Tribune|
#aca-premiums#health#insurance-market
economy5 months ago

Fed's Divided Stance Leaves Markets in Uncertainty

Federal Reserve Chair Jerome Powell signaled a cautious stance by not cutting interest rates and even hinted at a possible rate increase, citing economic resilience and inflation concerns, which disappointed markets expecting a rate cut in September. Despite internal dissent within the FOMC, Powell emphasized data-driven decisions and suggested a rate cut remains possible later in the year, with some analysts forecasting multiple cuts in 2025.

via Fortune|
#economy#federal-reserve#inflation
finance1 year ago

Global Markets on Alert as Japanese Yen Signals Trouble

The Japanese yen is gaining strength as markets anticipate a potential rate hike by the Bank of Japan, with a 65% chance in December and 83% in January. This has led to key currency pairs like USD/JPY and AUD/JPY breaking critical support levels, which could disrupt global markets similar to the yen rally in July. The BoJ's decisions will be influenced by US economic conditions and Federal Reserve actions, signaling a risk-off environment for now.

via Seeking Alpha|
#bank-of-japan#currency-pairs#finance
business1 year ago

Florida Home Insurance Rates Set to Surge 14%

Florida's state-backed Citizens Property Insurance Corporation plans to increase home insurance rates by 14% next year, affecting over a million residents. This decision comes despite some private insurers cutting or maintaining their rates. The hike, pending regulatory approval, is driven by inflation and frequent severe weather, and aims to move towards actuarially sound rates while remaining lower than most private insurers. The increase will impact primary and secondary homeowners differently, with secondary homes seeing a 50% rise.

via New York Post |
#business#citizens-property-insurance-corporation#florida
businessenergy1 year ago

"National Grid Proposes Significant Rate Hikes for 2024"

National Grid has requested the New York State Public Service Commission to approve a 15-20% rate hike for residential electric and gas customers starting in spring 2025. The increase aims to support infrastructure, customer service, economic growth, and the transition to clean energy. The proposal could potentially spread costs over several years to mitigate the immediate impact. This follows similar rate increases approved for RG&E and NYSEG. Public hearings will be held for customer feedback.

via RochesterFirst|
#businessenergy#clean-energy#national-grid
energy-regulation1 year ago

Michigan AG Nessel Plans Intervention in DTE's $456M Rate Hike Request

Michigan Attorney General Dana Nessel plans to intervene in DTE Energy's $456 million rate hike request, criticizing it as "absurd" and questioning the need for such a substantial increase. DTE argues the hike is necessary for grid improvements and service reliability, but Nessel's office contends that the company has failed to justify previous cost increases. The Michigan Public Service Commission will consider the request, with a history of approving lower rate increases than initially sought by utilities.

via Detroit Free Press|
#dana-nessel#dte-energy#energy-regulation
energy-regulation1 year ago

Michigan Attorney General Steps in as DTE Energy Seeks $450M Rate Hike

Michigan Attorney General Dana Nessel intervened in DTE Electric Company's request for a $450 million rate increase, criticizing the timing and lack of accountability. Just four months ago, DTE was approved for a $368 million rate hike, costing the average residential customer $100 or more annually. Nessel aims to prevent residents from bearing additional costs without quantifiable benefits and has also raised concerns about DTE's five-year distribution plan lacking utility accountability.

via WWMT-TV|
#dana-nessel#dte-electric-company#energy-regulation
business1 year ago

"Homebuyers Seek Alternatives as CPUC Approves Another PG&E Rate Hike"

The California Public Utilities Commission has approved another rate hike for PG&E, adding an average of $5 a month to customers' bills on top of recent historic increases, prompting some potential homebuyers to look outside of PG&E's coverage territory. Lawmakers and customers are expressing frustration over the continuous price hikes, with some calling for legislative intervention to set limits on utility companies' rate increases.

via CBS Sacramento|
#business#california#cpuc
business1 year ago

"CPUC Approves Another PG&E Rate Hike in California"

The California Public Utilities Commission has approved a plan by Pacific Gas & Electric to raise utility bills, with customers expected to see a $4 to $6 increase. The additional charge is intended to help pay for safety upgrades made by the company in 2022. PG&E has also requested more time to make a $1 billion payment, despite reporting profits of over $2 billion last year.

via KCRA Sacramento|
#business#california#pgande
business1 year ago

"CPUC Approves Record PG&E Rate Hike Despite Resident Backlash"

The California Public Utilities Commission has approved a PG&E rate hike of about $5 a month to compensate for vegetation management efforts aimed at reducing wildfire risk. This comes after a 13 percent increase in January and precedes another potential hike to cover storm damage repairs. PG&E expects total rate hikes to amount to about $50 more per average customer by 2024, while facing frustration from ratepayers and critics.

via NBC Bay Area|
#business#cpuc#pgande
energy1 year ago

Arizona Corporation Commission Approves 8% Rate Hike for APS Rooftop Solar Customers

Arizona Public Service Co. has been approved to increase the average monthly bill for residential customers by $10 to $12, with an additional $2.50 to $3 fee for those with rooftop solar systems. The decision by the Arizona Corporation Commission has sparked criticism, with requests for reconsideration and calls for utility executives to provide sworn testimony on the projected impact of the rate hike. The rate increase is aimed at recouping infrastructure expansion expenses and ensuring reliable service, but critics argue that it unfairly targets solar customers and lacks comprehensive data analysis.

via KTAR.com|
#arizona#arizona-corporation-commission#electricity