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☆ China is trying to end its ‘epic’ property crisis. The hard work is just beginning
▼ + stars: | 2024-05-21 | by ( Laura He | ) edition.cnn.com time to read: +7 min

“The policymakers recognize the urgency to prevent an outright property crisis,” said Zhaopeng Xing, senior China strategist at ANZ Research. According to Goldman Sachs, the total value of unsold homes, unfinished projects and unused land in China is about 30 trillion yuan ($4.1 trillion). On Friday, Tao Ling, deputy governor of the PBOC, said the relending program could eventually underpin 500 billion yuan ($69 billion) worth of bank loans to support the buying. The Housing Ministry said Friday that local governments can instruct local state-owned enterprises to help purchase some unsold homes from developers. Just the beginningAddressing the oversupply of unsold homes is only the first step, experts say.

Persons: ”, Zhaopeng Xing, Goldman Sachs, it’s, Tao Ling, Ting Lu, Nomura, Helen Qiao, It’s, Tao, ” Jing Liu, Taylor Wang, Xing, Goldman, Donald Trump, Michelle Lam, Wei Yao, Société Générale Organizations: Hong Kong CNN —, ANZ Research, Goldman, People’s Bank of China, Greater China, Bank of America, Housing Ministry, HSBC, European Union Locations: China, Hong Kong, Hong Kong CNN — Beijing, Beijing, Greater, Société, Japan

CNBC Select explains the drawbacks of buying a lottery ticket with a credit card and what to do instead. A credit card cash advance is when you withdraw money from your credit card, essentially borrowing cash against your card's line of credit. Cash advance fees typically amount to 3% or 5% of the total cash advance withdrawn. "If you use your credit card for these transactions, you may be charged a cash advance fee and a potentially higher cash advance interest rate." In a number of states, including Massachusetts and Georgia, buying a lottery ticket with a credit card is illegal.

Persons: Cash Organizations: CNBC, Axos, CNBC Select's, Facebook, Twitter Locations: Massachusetts, Georgia

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Chase is offering improved welcome bonuses on the IHG One Rewards Premier Credit Card and IHG One Rewards Traveler Credit Card for a limited time. We've seen lots of travel rewards credit cards launch elevated offers in recent months, and now two IHG credit cards from Chase are offering higher-than-normal bonuses for a limited time. Insider's Featured Credit Cards for Travel Chase Sapphire Preferred® CardCapital One Venture Rewards Credit Card Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. IHG Credit Card OffersThe IHG right card for you depends on your spending habits, how often you stay with IHG, and whether or not you're willing to pay an annual fee for upgraded benefits.

Persons: Chase, Read, —, Chase IHG cardholders, We're, you'd, IHG, it's, cardholders, Cash, you'll Organizations: IHG, Resorts, Service, Chase, Chevron, Target, Walmart, Capital, Hotels, InterContinental ®, Crowne Plaza, FDIC, Reading Chevron, Credit Card, Card, Diamond, United Travel Bank, TSA, Rewards, United, Brands, InterContinental Hotels, Resorts Kimpton, Senses, Plaza, Mastercard Locations: Chevron

☆ More than 100 U.S. political elites have family links to slavery
▼ + stars: | 2023-06-27 | by ( Reuters Graphic | ) www.reuters.com time to read: +46 min

Then the war came, and according to the family history, Union soldiers plundered Sessions’ 27-room house. About 48 years old at the time, he did not stand a chance to succeed without slavery, the family history suggests. ‘A Better Nation’Some historians and genealogists say there is a valuable reason for white leaders – and other white Americans – to explore their links to slavery. Nicka Sewell-Smith, a professional genealogist with the family history website Ancestry.com, said people frequently ask her what to do with such documents. The top Democrat on the House Foreign Affairs Committee, Meeks said in an interview that he has spent years trying to trace his family history back before 1870.

Persons: Black, Mitch McConnell, Lindsey Graham, Tom Cotton, James Lankford, Elizabeth Warren, Tammy Duckworth, Jeanne Shaheen, Maggie Hassan, Joe Biden, –, Donald Trump –, Jimmy Carter, George W, Bush, Bill Clinton, Barack Obama, Trump’s, Amy Coney Barrett, Neil Gorsuch –, Asa Hutchinson, Doug Burgum, Tim Scott, James Clyburn, Henry McMaster, ”, Henry Louis Gates Jr, Gates, ” “, ” Gates, enslavers, Tony Burroughs, Biden, Obama, McConnell, Burroughs, Joseph Maddox, Maddox, Sela, Rubin, James, Sal, Sam ”, Graham, Graham didn’t, Nancy Mace, Drucilla, Drucilla Mace, John Mace, Hector Godbolt, John Mace’s, Godbolt, “, ” Nancy Mace, Henry Coe, Duckworth, Coe, Margaret, Isaac, Warner, George …, Isaac Franklin –, “ There’s, ” Duckworth, George Floyd, Donald Trump, ” Biden, ‘, ’, Ben Affleck, ” Affleck, Independent Angus King, Mo Brooks, ” Brooks, Sean Kelley, Kelley, White, don’t, wasn’t, Richard Sessions, Pete Sessions, Richard’s, William Sessions, John Cowger, Tom Cotton of, ” Cotton’s, Cowger, Cotton, Archibald Crawford, Juneteenth, Shaheen, Pocahontas, Edmond Dillehay, Peter ”, Milly, Lankford, ” Lankford, Joe Wilson, Stephen H, Wilson, Boineau, General David Addison Weisiger, Wilson –, Addison Graves Wilson –, Weisiger “, ” Wilson, Daniel Weisiger, Daniel Weisiger’s, Samuel, Samuel Weisiger, Daniel, Julia Brownley, Jesse Brownley, Brownley, ” Brownley, Thomas Ferguson, Brooks, Manumission, Marie Jenkins Schwartz, ” “ It’s, Union General William Tecumseh Sherman, Harvard’s Gates, Sherman, Andrew Johnson, Abraham Lincoln, Nicka Sewell, Smith, Ancestry.com, ” Sewell, LaBrenda Garrett, Nelson, Garrett, Rick Larsen, John Wiggins, Larsen, – Gilbura, George, Agg –, ” Larsen, Gilbura, Agg, Gregory Meeks, Meeks, Jim Crow South, – Meeks, – “, ” Meeks, “ I’m, I’m, Tom Bergin, Makini Brice, Nicholas P, Brown, Donna Bryson, Lawrence Delevingne, Brad Heath, Andrea Januta, Gui Qing Koh, Tom Lasseter, Grant Smith, Maurice Tamman, Catherine Tai Design, John Emerson, Jane Ross, Emma Jehle, Jeremy Schultz, Blake Morrison Organizations: Reuters, Republicans, U.S, Supreme, Republican, Harvard University, PBS, United States Congress, Representative, WikiLeaks, Sony, Facebook, White, FedEx, National Museum of, 117th, Independent, University of Essex, Geographic, American Economic, Pete Sessions, Sessions, Federal Bureau of Investigation, Jeanne Shaheen U.S, CNN, Biden, Trump, ” Reuters, South, South Carolina General Assembly, Confederate, statehouse, Congressional, Chesterfield County, Mount Vernon College, George Washington University, Mo Brooks Former U.S, “, New York Times, United, Federal Government, Union, Black, Southern, Democrat, House Foreign Affairs, Klux Klan Locations: U.S, America, Confederate States, Arkansas, North Dakota, South Carolina, Congress, Black, Northern, Southern, Illinois, Virginia, Frederick County , Virginia, United States, Minnesota, ”, Mo Brooks of Alabama, American, Texas, Mississippi, Chicot County , Arkansas, Chicot County, Tom Cotton of Arkansas, Yell County, Yell County , Arkansas, New Hampshire, Oklahoma, Tulsa, Georgia, Pennsylvania, Michigan, Frankfurt, Germany, Chesterfield County , Virginia, California, Portsmouth , Virginia, Alabama, Haywood County , North Carolina, Antebellum, United States of America, Washington, Nicholas County , Kentucky, Queens , New York, New York, York County, Mende, Sierra Leone, Africa, Bunce

☆ The Chase IHG Business Credit Card is offering an enormous 165,000-point bonus (worth over $1,000 in hotel stays), but not for much longer
▼ + stars: | 2023-06-16 | by ( Joseph Hostetler | Jasmin Baron | Credit Cards Reporter | ) www.businessinsider.com time to read: +14 min

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). The IHG Premier Business Card has one of the most valuable bonuses of any hotel credit card on the market. IHG; Chase; InsiderThe IHG® Rewards Premier Business Credit Card is currently offering an increased bonus, but only until 9:00 AM EST, June 28, 2023. Here's what you need to know before jumping on the increased IHG® Rewards Premier Business Credit Card bonus. The IHG Rewards Business Card Is Worth Keeping Year After YearThe IHG® Rewards Premier Business Credit Card comes with much more than just a hefty welcome bonus.

Persons: You'll, —, you've, there's, you'll, Cash, Wells, We're, It's, you'd, — Worthington Organizations: Business, Service, Brands, InterContinental Hotels, United, Card Citi, Card, Target, Walmart, Citi, InterContinental ®, Crowne Plaza, FDIC, Reading Chevron, Business Credit Card, InterContinental, InterContinental Maldives Maamunagau, Business Credit, United Airlines, TSA, Rover Locations: You'll, Mexico, Southeast Asia, India, Columbus, Worthington, InterContinental Maldives

The U.S. Bank Cash+® Visa® Secured Card is one of the best secured credit cards for earning cash back. US Bank Cash+ Visa Secured Card Review: Is It the Best Credit Card for You? Insider's Featured Secured Credit Cards Discover it® Secured Credit CardSelf Visa® Credit CardCapital One Quicksilver Secured Cash Rewards Credit Card Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. US Bank Cash+ Visa Secured Card RewardsHow to earn rewardsThe U.S. Bank Cash+® Visa® Secured Card has a better cash back earning rate than you'll find on most credit cards — making it a screaming deal for a secured credit card. Read our review Read Our Review A looong arrow, pointing rightUS Bank Cash Plus Secured Card Annual Fee and Other CostsThe U.S. Bank Cash+® Visa® Secured Card is a $0-annual-fee card.

Persons: You'll, That's, You've, It's, you've, you'll, We're, —, it's Organizations: Bank, Rewards, EV, U.S, Bank's, U.S . Bank, Business, Reading Chevron, US, Visa, Discover, Bank Cash, Quicksilver, Chevron, Gas, Department, Sporting, Travel, Cash, . Bank, Card, US Bank, Credit Cards, Card U.S, Go, Cards, Capital, US Bank Cash Locations: U.S

☆ Using frozen Russian money for Kyiv is barmy
▼ + stars: | 2023-05-25 | by ( ) www.reuters.com time to read: +2 min

European officials are still discussing options to use the proceeds of Russia’s frozen funds to help Ukraine. Yet funnelling the money to the war-torn country, which looks justifiable on moral grounds, would set a bad precedent. Euroclear, the Belgium-based settlement house, is sitting on some 180 billion euros of Russian central bank reserves – part of the 280 billion euros Ukraine’s allies froze last year after Russia’s invasion. The clearing firm also holds another 17 billion euros from sanctioned Russian individuals. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Plus, the existing TD Double Up℠ Visa Credit Card and TD Cash Credit Card each got a makeover, with customer-friendly updates that make it easier to earn maximum rewards. Here's a look at the new TD credit cards and existing card improvements to help you decide if they're worth it. TD credit card changesNew TD credit cardsThe new TD Clear and TD FlexPay Credit Card aren't for folks who love to earn and use credit card rewards for free travel or cash back. Enter the newly remodeled TD Cash Credit Card: While it's always offered strong bonus categories, they were previously fixed.

The IHG Premier Business Card now has one of the most valuable bonuses of any hotel credit card on the market. IHG; Chase; InsiderThe IHG® Rewards Premier Business Credit Card is currently offering an increased bonus for a limited time. Here's what you need to know before jumping on the increased IHG® Rewards Premier Business Credit Card bonus. The IHG Rewards Business Card is worth keeping year after yearThe IHG® Rewards Premier Business Credit Card comes with much more than just a hefty welcome bonus. What to know about the new IHG Business credit card bonusThe IHG® Rewards Premier Business Credit Card now comes with an abnormally large bonus worth an average of $1,073 in hotel stays.

If you have one of the Chase IHG Rewards credit cards, you'll earn an extra 10 points per dollar with the IHG® Rewards Premier Credit Card and IHG® Rewards Premier Business Credit Card, or 5 points per dollar with the IHG® Rewards Traveler Credit Card. Other ways to redeem IHG pointsOpt for airline miles instead of IHG Rewards pointsIf you'd rather receive airline miles for your stays instead of IHG Rewards points, that's an option, though redemption rates vary by airline. Transfer IHG points to a friendThere's also an option to transfer IHG points to a friend or family member at a cost of $5 per 1,000 points, or buying them through IHG's website. Some of these redemptions are as low as 100 IHG points, so if you haven't had any activity in your account recently, this is a good way to keep your IHG points from expiring. Use IHG points to attend special eventsThrough IHG Auctions, you can redeem IHG points for concerts, sports, special events, or other experiences.

Bank of America Unlimited Cash Rewards Secured RewardsBank of America Unlimited Cash Rewards Secured welcome bonusThe Bank of America® Unlimited Cash Rewards Secured Credit Card does not come with any sort of welcome bonus offer, which is typical of secured credit cards. How to earn rewards from the Bank of America Unlimited Cash RewardsThe Bank of America® Unlimited Cash Rewards Secured Credit Card earns a flat 1.5% cash back on all purchases. Bank of America Unlimited Cash Rewards Secured Annual Fee and Other CostsThe Bank of America® Unlimited Cash Rewards Secured Credit Card comes with a $0 annual fee. N/A Minimum security deposit $200 $200 $200 Review Bank of America Customized Cash Rewards Secured credit card reviewBank of America Unlimited Cash Rewards Secured vs other secured credit cardsBank of America® Unlimited Cash Rewards Secured Credit Card U.S. Bank Cash+® Visa® Secured Card U.S. Bank Altitude® Go Visa® Secured Card Annual fee $0 $0 $0 Rewards rate Earn unlimited 1.5% cash back on all purchases. Minimum security deposit $200 $300 $300 Review U.S. Bank Cash Plus Secured credit card review U.S. Bank Altitude Go Secured credit card reviewBank of America Unlimited Cash Rewards Secured Frequently Asked QuestionsIs the Bank of America Unlimited Cash Rewards Secured card worth it?

☆ Swiss sight deposits fall, suggesting Credit Suisse, UBS took less emergency help
▼ + stars: | 2023-04-03 | by ( John Revill | ) www.reuters.com time to read: +2 min

ZURICH, April 3 (Reuters) - Sight deposits held by the Swiss National Bank declined last week, data showed on Monday, suggesting that Credit Suisse (CSGN.S) and UBS (UBSG.S) may have cut back on use of emergency funds offered them to facilitate their planned merger. Total sight deposits - meaning commercial bank cash held by the central bank overnight - fell to 563.566 billion Swiss francs ($614.71 billion) from 567.003 billion francs in the previous week, the SNB data showed. Sight deposits had risen 51.8 billion francs the week before, the second biggest increase on record and probably linked to UBS and Credit Suisse tapping the liquidity lines offered by the SNB and Swiss government after the takeover was announced. Both banks have been offered 200 billion francs in emergency liquidity after Credit Suisse suffered massive outflows from worried investors. The SNB and Credit Suisse both declined to comment on the changes in sight deposits on Monday.

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). Chase is offering big elevated bonus offers on the IHG® Rewards Premier Credit Card and IHG® Rewards Traveler Credit Card, but they're only available until the end of the day on April 5, 2023. You can redeem IHG points at brands like Holiday Inn, Staybridge Suites, Hotel Indigo, and Kimpton. Insider's Featured Credit Cards for Travel Chase Sapphire Preferred® CardCapital One Venture Rewards Credit Card Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. You'll typically get the best return by using IHG points for stays at over 6,000 hotels across 18 brands worldwide.

Best 5% Cash Back Credit Cards of April 2023Read on to see our picks for the best 5% credit cards and learn which ones best suit your needs. 5% Cash Back Credit Cards Frequently Asked Questions (FAQ)Is there a credit card that earns 5% cash back on everything? Compare the Best 5% Cash Back Credit Cards Chase Freedom Flex℠Discover it® Cash BackCiti Custom Cash℠ CardU.S. Bank Cash+® Visa Signature® CardInk Business Cash® Credit Card Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. US Bank Cash Plus card reviewBest for Small Business PurchasesInk Business Cash Credit CardIn some respects, the Ink Business Cash® Credit Card crushes others on this list. The main drawback of the Ink Business Cash® credit card is its limited selection of 5% cash back categories.

Best 5% Cash Back Credit Cards of May 2023Read on to see our picks for the best 5% credit cards and learn which ones best suit your needs. 5% Cash Back Credit Card Frequently Asked Questions (FAQ)Is there a credit card that earns 5% cash back on everything? Compare the Best 5% Cash Back Credit Cards Chase Freedom Flex℠Discover it® Cash BackCiti Custom Cash℠ CardU.S. Bank Cash+® Visa Signature® CardInk Business Cash® Credit Card Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. US Bank Cash Plus Card ReviewBest for Small Business PurchasesInk Business Cash Credit CardIn some respects, the Ink Business Cash® Credit Card crushes others on this list. Chase Ink Business Cash Credit Card ReviewHonorable MentionStore Credit CardsIf you do a high volume of spending with a single retailer, then a store credit card may be your best option.

What's the difference between the Bank of America Unlimited Cash Rewards and the Bank of America Customized Cash Rewards? Bank of America Unlimited Cash Rewards Cash BackBoA Unlimited Cash Rewards welcome bonusNew Bank of America® Unlimited Cash Rewards Credit Card cardholders can earn $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days from account opening. How to earn cash back with the Unlimited Cash Rewards cardThe Bank of America® Unlimited Cash Rewards Credit Card earns 1.5% cash back on all purchases. Bank of America Preferred Rewards tiers Preferred Rewards Gold: 25% more rewards on eligible Bank of America rewards credit card spending (earn 1.875% cash back)25% more rewards on eligible Bank of America rewards credit card spending (earn 1.875% cash back) Preferred Rewards Platinum: 50% more rewards on eligible Bank of America rewards credit card spending (earn 2.25% cash back)50% more rewards on eligible Bank of America rewards credit card spending (earn 2.25% cash back) Preferred Rewards Platinum Honors: 75% more rewards on eligible Bank of America rewards credit card spending (earn 2.625% cash back)How to use cash back from the BofA Unlimited Cash Rewards CardWith the Bank of America® Unlimited Cash Rewards Credit Card, you've only got a few redemption options:Statement credits to your credit cardDeposits made directly into a Bank of America checking or savings accountCredits to a qualifying Merrill Cash Management AccountCredits to a qualifying 529 account with MerrillThere's no minimum amount for one-time redemptions as statement credits, deposits to BoA checking/savings accounts, or to qualifying Merrill Cash Management Accounts. Bank of America Unlimited Cash Rewards Benefits and FeaturesThe Bank of America® Unlimited Cash Rewards Credit Card doesn't have a ton of extra perks, but there are a few worth noting.

Bank of America Customized Cash Rewards Cash BackBank of America Customized Cash Rewards bonusNew Bank of America® Customized Cash Rewards Credit Card cardholders can earn $200 cash rewards bonus after you spend $1,000 on purchases within 90 days of account opening. How to earn cash back with the Bank of America Customized Cash Rewards credit cardThe Bank of America® Customized Cash Rewards Credit Card has major appeal for folks looking to earn cash back on multiple spending categories. Bank of America Customized Cash Rewards Benefits and Featuresthe Bank of America® Customized Cash Rewards Credit Card doesn't have many other benefits, but this is common with no-annual-fee credit cards. Bank of America Customized Cash Rewards Annual Fee and Other CostsThe Bank of America® Customized Cash Rewards Credit Card has a $0 annual fee. Methodology: How we reviewed the Bank of America Customized Cash RewardsIn our review process, we compared the Bank of America® Customized Cash Rewards Credit Card to competing no-annual-fee cash back cards, especially those that allow you to customize your bonus categories.

He now faces renewed criticism over his agenda at the Fed, where he oversaw efforts to reduce regulations on regional banks. U.S. regional banks are expected to pay higher rates to depositors to keep them from switching to larger lenders, leaving them with higher funding costs. In 2008, regulators had to contend with billions of dollars in toxic mortgages and complex derivatives sitting on bank books. Currently, regional banks below $250 billion in assets have simpler capital, liquidity and stress testing requirements. "SVB is not a very complicated bank," said Dan Awrey, a Cornell Law professor and bank regulation expert.

☆ Credit Suisse sees central bank cash as buying time for overhaul- executive tells SRF
▼ + stars: | 2023-03-17 | by ( ) www.reuters.com time to read: +1 min

ZURICH, March 17 (Reuters) - Credit Suisse (CSGN.S) sees its access to 50 billion Swiss francs ($53.98 billion) of central bank funding as "precautionary liquidity" to allow the embattled lender to continue its revamp, the head of its Swiss business said. Following a crisis of confidence that wiped 25% off the value of Credit Suisse shares on Wednesday, the bank sought an emergency liquidity line from the Swiss National Bank in the first such move for a global lender since the financial crisis of 2008. "We see it as precautionary liquidity so that we can carry out the transformation of Credit Suisse and continue to work well in this turbulent situation," Andre Helfenstein, CEO of Credit Suisse's Swiss bank, told broadcaster SRF in an interview published late Thursday. "Of course 50 billion francs is a big number. Helfenstein said Credit Suisse was working hard to stem customers outflows, although this could take time.

☆ Where wealthy investors are putting their cash after SVB collapse
▼ + stars: | 2023-03-16 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

Wealthy investors and family offices are moving more of their money out of bank cash-balances and into treasuries, money markets and other short-term instruments, according to wealth advisors. "Over [last] weekend there was a lot of worry," said Michael Zeuner, managing partner at WE Family Offices, which advises wealthy investors and family offices. The SVB crisis has only accelerated a broader push by wealthy investors over the past year to move cash out of bank balances and into Treasuries and money-markets. Loans and mortgagesWealthy investors and family offices will continue to rely on banks for loans and mortgages. But the strategy of banks requiring wealthy clients to give them deposits or primary-banking relationships in exchange for loans may be ending, advisers say.

☆ Factbox: FACTBOX Credit Suisse's troubles - spies, money laundering and central bank cash
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +6 min

Lescaudron was convicted by a Swiss court in 2018 of having forged the signatures of former clients, including Ivanishvili, over an eight-year period. Credit Suisse has said it expects the case, which it is appealing, to cost it around $600 million. The hedge fund's highly leveraged bets on certain technology stocks backfired and the value of its portfolio with Credit Suisse plummeted. Swiss regulators have rebuked Credit Suisse for "serious" failings in its handling of the multi-billion dollar business with Greensill. In response, Credit Suisse said it condemned the spying and had taken "decisive" steps to improve its governance and strengthen compliance.

☆ Factbox: Credit Suisse's troubles - spies, money laundering and takeover
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +6 min

Credit Suisse has said it expects the case, which it is appealing, to cost it around $600 million. The hedge fund's highly leveraged bets on certain technology stocks backfired and the value of its portfolio with Credit Suisse plummeted. Swiss regulators have rebuked Credit Suisse for "serious" failings in its handling of the multi-billion dollar business with Greensill. Switzerland's financial regulator said Credit Suisse had misled it about the scale of the spying. In response, Credit Suisse said it condemned the spying and had taken "decisive" steps to improve its governance and strengthen compliance.

Summary ECB signalled 50 bps hikeMarkets doubt its resolve and price 25 bpsFinancial turmoil seen derailing rate hike plansInflation to stay above target through 2025FRANKFURT, March 16 (Reuters) - European Central Bank policymakers are meeting on Thursday amidst turmoil in financial markets that could force it to divert from plans for another hefty interest rate hike even though inflation remains too high. Now the ECB must reconcile its inflation-fighting credibility with the need to maintain financial stability in the face of overwhelmingly imported turmoil. Complicating its task, the central bank for the 20 countries that use the euro currency has essentially already committed to a 50 basis point increase on Thursday. Money market pricing suggests that investors now see just a 30% chance of a 50 basis point increase, down from as high as 90% early on Wednesday. The peak ECB rate, also known as terminal rate, is now seen at only around 3.25%, down from 4.1% last week, an exceptional reversal in market pricing.

☆ If You’re a Foodie, You’ll Want This Cash Back Card
▼ + stars: | 2023-03-08 | by ( ) www.wsj.com time to read: +6 min

By Martha C. WhiteIf you, like many Americans, do the bulk of your credit card spending at the supermarket, Capital One SavorOne Cash Rewards may be the perfect card for you. While this card’s base 1% cash back rate is unremarkable, its unlimited 3% cash back at grocery stores is the highest uncapped rate we found in the cash back category. It’s why Buy Side from WSJ named this card Best Cash Back Card for Groceries. Card details you might missWhile Buy Side from WSJ judges cash back credit cards primarily based on their cash back offers, it’s important to understand all the terms and conditions. For instance, a family with $3,000 a month in credit card spending who spent half of that amount—$1,500—on food would earn $720 a year in cash back with this card, the same as they would with Buy Side from WSJ’s Best Overall Cash Back Credit Card pick, the Wells Fargo Active Cash, which offers 2% cash back on purchases across all categories.

Those building or rebuilding credit have the best chances of qualifying for secured credit cards. If you have average credit and are looking to build up to a good or excellent credit score, it's a good idea to consider a credit card designed for average credit applicants, such as the Capital One Platinum Credit Card. Find the best credit card for you by reviewing offers in our credit card marketplace or get personalized offers via CardMatch™. It's generally easier to get approved for secured credit cards or starter credit cards, which are designed especially for those who are beginning to build their credit. Our methodologyTo determine which cards offer the best value for building or rebuilding credit, Select analyzed 29 of the most popular credit cards available for consumers building or rebuilding their credit.

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