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Sao Palo, Brazil (AHN) – Brazil’s central bank cited a “substantial deterioration” in its outlook for the economy and unexpectedly announced a cut in its key interest to 12 percent from 12.5 percent.

Rising prices have been a problem in Brazil, and the central bank had raised its key interest rate five times this year in an effort to contain inflation.

However, inflation is still running at a six-year high of 7.1 percent.

The continued high inflation rate couple with the unexpected cut coming a few days after several politicians had called for a rate cut. Observers say it calls into question the central bank’s independence.

Brazil, which is the biggest economy in South America, grew at the rate of 7 percent last year. This year Brazil’s economy is expected to grow at the rate of 5 percent.

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Brussels, Belgium (AHN) – The president of the European Central Bank president made comments that indicate eurozone interest rates could go up next month.

The ECB announced Thursday that for the time being interest rates would hold steady at 1.25 percent.

At the same time he made that announcement, Jean-Claude Trichet sent a signal rates would likely rise soon when he said that curbing rising inflation required strong vigilance. The last time an ECB official used the phrase “strong vigilance was in March, just ahead of raising interest rates the next month. In addition, it had used that phrase in the past many times just prior to raising rates.

Inflation is a problem in some of the eurozone’s 17 member nations because of rising energy and commodity prices. Inflation in the eurozone was 2.7 percent for May.

However, not all eurozone nations are facing inflation. Portugal and Greece are facing low growth and raising interest rates could further hamper growth there. So the problem becomes balancing that situation.

Currency traders reacted to Trichet’s comments by sending the euro plunging by more than one cent in pairs trading against the dollar to $1.4484.

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New York- Sallie Mae is lowering the interest rates it charges on its student loans. But the price cut likely won’t attract a surge of new borrowers.

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With the economy weakening and Treasury bonds paying little interest, investors are exposing themselves to more risk in bonds Investors trying to duck a blow from the stock market by moving to bonds may be positioning themselves to take a left jab that they didn’t see coming.

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AP – Interest rates on short-term Treasury bills rose in Monday’s auction for the second straight week.

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Imagine for a minute how you’d feel if you found out that Congress passed a law that would allow your neighbor to pay less tax than you – a lot less tax than you – simply because they waited so long to do it.

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interest rates is to switch to a fixed-rate deal. But what if you can’t remortgage – perhaps because you don’t have enough equity in your home – or don’t want to because you’re …

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Trackers are a problem for banks because they have low interest rates

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Margaret Minnicks There is a bank on almost every street in Richmond, Viriginia and just as many other lending places. However, when people need to borrow money, a bank loan might not be an option.During these times when so many people… April 10, 2011

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NEW YORK (MainStreet) -On your Schedule A, you can deduct as mortgage interest only the amount charged on up to $100,000 of home equity debt. If you have total home equity debt of $150,000 and the interest on this debt for the year is $9,000, you can deduct only $6,000 ($100,000 represents two-thirds of total equity of $150,000, so only two-thirds of the $9,000 interest paid is deductible: $6,000).

If your home equity borrowings exceed $100,000, you may still be able to claim a deduction for some of the excess interest. You can elect not to treat some of the debt that is secured by your residence as home equity debt, based on what you did with the money you borrowed.

Rules on deducting mortgage interest are of interest to people with rental property and time shares as well as to those with homes used as a principle residence. …

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