Why do interest rates always seem to go up once the banks have some sort of meeting. (In Australia anyway.)
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It isn’t ‘the banks’, it is the Reserve Bank, a quasi-independant government department. They create and lend money to the other banks at a fixed rate, as well as making other changes.
Every month they meet and decide on what rate they should be charging. They are the major source of money to lend – for home mortgages, but mostly for business finance – so the rate at which you can get money from the federal reserve sets the rate elsewhere.
Central banks in US and Europe are increasing rates right now, to fight inflation (higher rate -> less borrowing -> less bying -> prices do not grow as fast).
once Russian war and other disruptions end, global economy will start to settle down, and they will start decreasing those rates.
You only hear about the meetings when it’s very likely they’re going to raise interest rates.
They meet every 3 months but usually don’t change anything so nobodytalks about it
you havent lived very long! its not always the case. when the economy is weak and unemployment is rising or there is a big shock to the system interest rates are cut. interest rates were so low for so long there was no where to go but up. the central banks often do not move interest rates at all.
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