Europe

Iceland interest rates cut to 11%

BBC

Iceland interest rates cut to 11%Iceland's central bank has cut interest rates to 11% from 12%, as hopes build that the country is starting to stabilise after the financial crisis.

Interest rates have now fallen significantly since March, when they stood at a record high of 18%.

Iceland interest rates cut to 11%  »

America and Caribbean

US housing recovery is continuing

BBC

US housing recovery is continuingA key US housing index has risen to its highest level in almost three years, helped by first time buyers taking advantage of a popular tax break.

The National Association of Realtors said its Pending Home Sales Index rose 6.1% in September to 110.1, its eighth straight monthly rise.

US housing recovery is continuing  »

Asia and Pacific

Australia lifts interest rate

Straits Times

Australia lifts interest rateSYDNEY - AUSTRALIA'S central bank raised its key interest rate on Tuesday by a quarter percentage point for the second month in a row, declaring the global downturn over and warning that inflation was set to rise.

The decision was widely expected by analysts and underlines Australia's quick recovery compared with other developed countries. Most have yet to respond to signs the global economic crisis has eased by raising borrowing costs.

Australia lifts interest rate  »

Middle East and Africa

World’s best performing real estate market raises interest rates over inflation worries

Property Wire

World’s best performing real estate market raises interest rates over inflation worriesIsrael, which has been the best-performing residential property market this year, may lose its standing after becoming one of the first countries to raise interest rates since the global recession began.

Although located in one of the world’s most volatile regions, Israel has defied the worldwide real estate slump because of a dearth of land available for development and tax breaks for investors.

Prices rose 12.5% in the second quarter from a year earlier, double the increase for Switzerland, the second best performer among countries tracked by London-based property consultants Knight Frank.

World’s best performing real estate market raises interest rates over inflation worries  »