Latest news with #ratehike
Bloomberg
3 days ago
- Business
- Bloomberg
Tokyo Prices Rising Most in Two Years Put Pressure on Ishiba
By Updated on Save Prices in Tokyo jumped the most in two years, in a worrisome sign for Prime Minister Shigeru Ishiba ahead of a summer election, and one that will keep the central bank on track for another rate hike in coming months. Consumer prices excluding fresh food rose 3.6% in the capital in May from a year earlier, accelerating from 3.4% in April, the Ministry of Internal Affairs said Friday. The increase, which outpaced economists' median forecast of a 3.5% gain, was the biggest since January 2023. Overall inflation came to 3.4%, matching a revised 3.4% in April.
RNZ News
3 days ago
- Business
- RNZ News
Rates rise trimmed to 5.8% for Canterbury ratepayers
Chairperson Craig Pauling says the annual plan has produced a good outcome for the region. Photo: Supplied / Environment Canterbury Canterbury ratepayers are set to get some relief, with the regional council slashing its proposed average rate rise to 5.8 percent. Environment Canterbury consulted on an average rate rise of 9.9 percent , after signalling a rates hike of 15.5 percent in last year's 2024/34 Long Term Plan. But staff found further savings, following cuts to public transport funding, allowing councillors to endorse a revised rate rise of 5.8 percent during annual plan deliberations on Tuesday, May 28. The council has been under pressure from Waka Kotahi NZ Transport Agency to increase bus fares, with less funding available for public transport. Chairperson Craig Pauling said the annual plan had produced a good outcome for the region. ''I was pleased with council's detailed and good-spirited debate, and our consistent focus on strategic outcomes for Waitaha. ''We don't always get the things we want, and some of the decisions we had to make were unfortunately the result of changing government policies and investment priorities. ''But I feel we've landed in a good place for the region.'' Environment Canterbury chairperson Craig Pauling. Photo: RNZ / Nate McKinnon Pauling said public transport, river resilience and biodiversity remained priorities for the council, despite the pressures of the economic climate and changing government policy. The council was forced to rethink its investment in public transport due to reduced funding from central government. As signalled in the consultation, bus fares will increase, with the flat fare trial coming to an end in February next year. Standard adult fares will increase from $2 to $3 from July, with increases for child fares, total mobility card holders and community service card holders. A two-zone fare structure in be introduced in February, with Waimakariri and Selwyn bus users paying $3 to travel within their own own district and $4 to travel into Christchurch. A proposed two-year trial to establish a third zone linking Darfield, Kirwee and West Melton with Rolleston was dropped following submissions. Councillor John Sunckell proposed the council go ahead with the trial, funding $150,000 a year from reserves to reduce the targeted rate. But staff noted it was not eligible for NZTA funding and proposed investigating further support for the Malvern Community Vehicle Trust. The council will meet again on June 25 to adopt the annual plan. - LDR is local body journalism co-funded by RNZ and NZ On Air.
NHK
5 days ago
- Business
- NHK
BOJ chief to cautiously weigh rate hike amid uncertainty
The Bank of Japan chief has suggested again that the bank will cautiously weigh a further rate hike amid extremely high uncertainty. BOJ Governor Ueda Kazuo was speaking at an international conference in Tokyo attended by other countries' central-bankers. Ueda said inflation in Japan has picked up again, driven primarily by higher prices of food, most notably rice. He said the bank will "adjust the degree of monetary easing" if incoming data provide a reason for greater confidence that economic activity and prices are improving. At the same time, the BOJ chief pointed to growing uncertainty, particularly that related to trade policy, in an apparent reference to US tariff measures. In a transcript of his speech, Ueda confirmed that the bank would judge, "without any preconceptions," whether its outlook for the economy and inflation will be realized. That statement suggested that the bank will continue to cautiously assess the tariffs' impact on the economy and prices in its decision on whether to further hike interest rates.
CBS News
19-05-2025
- Business
- CBS News
ComEd price hike could hit June 1
Your ComEd electricity bills could increase on June 1. The Citizens Utility Board is sending customers another warning about the possible impact of a price hike. On June 1, the utility company's supply rate is expected to increase significantly and stay high for the next year, the watchdog group said. ComEd has estimated the increase could cost customers an extra $10.50 a month. ComEd attributes the spike to extreme weather, spikes from high energy users like data centers and high demand. In December 2024, regulators approved a rate hike for ComEd's clean energy plan of over $600 million. CUB said it will hold a virtual news conference to discuss the increased rates, their root causes, an energy law that partly protects customers from the rate hike, and tips for how customers can keep their costs manageable through the summer.
CBC
15-05-2025
- Business
- CBC
'I'm very concerned': N.S. government to intervene in Halifax Water rate hike case
Social Sharing The Nova Scotia government says it will wade into the regulatory review of Halifax Water's proposed rate hikes with concerns about affordability. Municipal Affairs Minister John Lohr said the province will intervene in the review that's underway with the Nova Scotia Regulatory and Appeals Board. "We just think this is a time when affordability and cost, household costs are significant, and so we'll be just bringing that message to the regulatory and appeals board," Lohr told reporters Thursday in Halifax following a cabinet meeting. Halifax Water applied to the board this month for two rate increases. The first would raise the average household water bill by 16.2 per cent this fiscal year and the second would raise the average household bill an additional 17.6 per cent next fiscal year. Halifax Water has said the rate hikes are necessary in the face of a growing deficit and inflation. The utility has several large infrastructure projects in the works. Will try to 'soften the blow' "I'm very concerned by this," said Scott Armstrong, minister of opportunities and social development. Armstrong said his department will look for ways to "soften the blow" for Halifax Water customers, should rate increases go ahead. "We do have programs in place and if those programs aren't sufficient, we'll have to look at being flexible and putting things in place that will help keep people attached to housing. That would be one of our highest priorities," Armstrong told reporters Thursday after cabinet. An industry group representing landlords is also intervening in the case. The Rental Housing Providers of Nova Scotia told CBC News earlier this week that higher water rates would lead to higher rents. Opposition calls for more support for utility, customers Interim Liberal Leader Derek Mombourquette said the proposed rate increases are "pretty alarming." "The government is going to have to look at some enhancement of programs to help people," he said. Mombourquette said the province should be "strategically investing money" to take some of the pressure off Halifax Water. Lohr said the province has already "invested heavily" in water and sewer projects across the province, and "we continue to do more all the time." NDP MLA Susan LeBlanc said she'd like the province to consider implementing a low-income water rate. "People just can't afford more," she said. "We do have major infrastructure needs, our water infrastructure is aging, so the government could come in at that level and help with the projects so that rates don't have to increase," she added. The case will go to a public hearing before the regulatory and appeals board in September.
