The great Australian property slump is in full swing as interest rates surge

SYDNEY – Soaring interest rates have triggered sharp plunges in house prices in Australia, ending a spectacular boom that led to one of the world’s most expensive property markets. Australia’s central bank, the Reserve Bank, began lifting interest rates in May due to concerns about rising inflation. Since then, the bank has overseen the fastest […]

Interest rate hikes stir up debate, unhappiness in inflation-hit Malaysia

KUALA LUMPUR – Malaysia’s consecutive interest rate hikes, which are expected to continue until year end, have stirred up debate and caught the attention of politicians. The country is already feeling the impact of creeping inflation amid talk of a general election in the coming months. Central bank Bank Negara Malaysia has raised its overnight […]