The Reserve Bank of India's efforts to protect the rupee from volatility, exacerbated by Middle East tensions, have led its net short forward position to a record $106.6 billion, despite a recent recovery in the currency.
India's Reserve Bank (RBI) has identified the high valuations of artificial intelligence-related stocks as a potential risk to the nation's financial stability.
The Reserve Bank of India (RBI) has released the Grade B Prelims Result for 2026, with the merit list PDF now available on its official website, rbi.org.in.
BusinessTimes of Indiaindian-expressndtv6d ago3 sources
The Reserve Bank of India (RBI) has introduced new rules for digital fraud compensation, allowing victims to recover up to Rs 25,000. These rules, effective by 2027, outline how to claim compensation for money lost in online scams.
The Governor of the Reserve Bank of India stated that it is too early to consider discussions about a potential interest rate hike, signaling a cautious approach to monetary policy.
The Reserve Bank of India (RBI) has announced that Indian banks are now permitted to lend against Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits.
South African Reserve Bank Governor Lesetja Kganyago has issued a warning that inflation expectations in the country are on the rise, signaling potential economic challenges ahead.
The Reserve Bank of Australia (RBA) has maintained its official cash rate at 4.35%, ending a series of three consecutive rises. Governor Michele Bullock delivered a strong message, citing a slowing economy and rising unemployment as factors influencing the decision, though a Middle East ceasefire is not yet cause for celebration.
The Reserve Bank of India (RBI) is currently assessing the potential advantages and disadvantages of introducing polymer currency notes, with no final decision made yet.
The Reserve Bank of India has decided to maintain its current interest rates, indicating a strategic shift in focus towards attracting foreign capital.
The Indian government and the Reserve Bank of India have jointly launched new initiatives to attract foreign investment into bonds and bank deposits. These measures include easing regulations and offering currency protection, which led to a significant strengthening of the rupee.
BusinessTimes of Indiaindian-express26d ago2 sources
The Reserve Bank of India (RBI) has announced plans to introduce plastic currency notes in India. This move comes as the country experiences a surge in cash usage.
The Nifty index surpassed 23,450 and the Sensex gained 150 points as Indian markets reacted ahead of the Reserve Bank of India's upcoming policy decision.
Discussions are ongoing regarding whether the 'undervalued' Indian rupee requires a Reserve Bank of India rate hike or a significant deposit mobilization drive to address its status.
The Reserve Bank of India (RBI) issued a clarification regarding reports that claimed the central bank had sold $12 billion worth of gold to protect its foreign-currency reserves.
The Reserve Bank of India regulates P2P lending platforms as NBFC-P2P entities and has implemented guardrails around exposure limits, indicating close monitoring of this credit trend by banks and the RBI.
The Reserve Bank of Fiji (RBF) has warned that electricity and fuel price increases are set to push inflation higher in the country. This forecast indicates potential economic challenges for consumers and businesses.
The Reserve Bank of India (RBI) is reportedly planning to introduce a 'Kill switch' facility aimed at blocking digital scams. This measure seeks to enhance security and protect users from online financial fraud.
The Reserve Bank of India's annual report indicates that the ongoing crisis in West Asia could create short-term challenges for India's economic growth and inflation.
The South African Reserve Bank has raised its interest rate to 7% for the first time since 2023, citing warnings of oil shocks, food inflation, and global instability that could drive prices higher.
A new survey from the Federal Reserve Bank of New York indicates that more people are experiencing food insecurity now than during the peak of the coronavirus pandemic.
The Reserve Bank of India's larger dividend payout is expected to affect India's fiscal comfort zone, influencing government finances and economic policy.
The Reserve Bank of India has escalated its dollar sales to $53 billion in fiscal year 2026 as part of its efforts to defend the value of the Indian rupee.
The Reserve Bank of India has been actively selling dollars to defend the rupee, but sources indicate the central bank is not in favor of using rate hikes for currency defense, instead prioritizing inflation control.
The Indian rupee has depreciated by nearly 6% against the US dollar amid Middle East tensions, leading the Reserve Bank of India to explore measures such as interest rate hikes and attracting dollar inflows to stabilize the currency.
South African consumers are facing increased living and borrowing costs as inflation accelerated to 4% in April. Economists warn that global fuel price shocks are complicating the South African Reserve Bank's interest rate decisions.
The Reserve Bank of Zimbabwe (RBZ) has announced an 8% economic growth, an increase in national reserves, and a strengthening of its local currency, the ZiG.
The U.S. Senate confirmed Kevin Warsh, a pick by President Trump, to the Federal Reserve Board of Governors in a close vote. His confirmation positions him as a potential candidate for the Fed chair.
Reserve Bank of India Governor Shaktikanta Das urged Indian businesses to focus on building resilience, reskilling their workforce, diversifying operations, and establishing new supply chains.
Staff members of the Reserve Bank of India (RBI) have staged a protest against a newly introduced promotion policy, expressing dissatisfaction with the changes.
The Reserve Bank of Australia (RBA) has implemented its third consecutive interest rate hike, raising the cash rate to 4.35%. This decision was made under pressure from inflation and escalating Middle East tensions, impacting would-be homebuyers and cementing Australia's outlier status among central banks.
The Reserve Bank of Australia's upcoming decision on the cash rate is expected to be closely contested, with a potential increase marking the third hike this year and carrying significant implications for consumers.
Rohit Jain, an executive director with three decades of experience, has been appointed as Deputy Governor of the Reserve Bank of India. His three-year term is set to begin on or after May 3, 2026.
The Reserve Bank of India (RBI) has reportedly brought more than 100 metric tons of gold into India for the third year in a row during fiscal year 2026.
FinanceReutersTimes of Indiandtv+3gulf-newskhaleej-timesdaily-mirror-lk2mo ago6 sources
The Indian Rupee has depreciated to a new all-time low against the US Dollar, nearing Rs26 against the UAE dirham and reaching 95.20 against the dollar. This significant slide has put the Reserve Bank of India on the defensive amidst global economic pressures.
Australia's inflation is approaching a three-year high, leading to expectations that the Reserve Bank of Australia (RBA) will raise interest rates for a third time this year following the release of recent economic data.
The Reserve Bank of India (RBI) is reportedly discussing its potential entry into Uzbekistan's capital market, signaling growing economic ties between the two nations.
Morgan Stanley is reportedly making moves to position itself as a reserve bank for the stablecoin industry, indicating a significant strategic shift in its engagement with digital currencies.
The Central Bank of Uzbekistan has announced the opening of accounts for the Reserve Bank of India (RBI), facilitating financial transactions and strengthening bilateral economic ties.
The Reserve Bank of India has revised its e-mandate norms, introducing a cap of Rs 15,000 for transactions that do not require an additional factor of authentication.
The Indian Rupee has experienced a decline as traders evaluate the impact of the Reserve Bank of India's recent easing measures in the foreign exchange market.
Former Reserve Bank of India Governor Duvvuri Subbarao has stated that a gradual depreciation of the currency is preferable to expending foreign exchange reserves to defend a specific exchange rate level.
An opinion piece from the Indian Express discusses the fundamental issues affecting the Indian Rupee and suggests that the Reserve Bank of India's actions may not be sufficient to prevent its decline.
The Indian rupee reached a one-week high following strategic moves by the Reserve Bank of India to reduce dollar demand from state-run oil refiners. The central bank encouraged refiners to use a special credit line to stabilize the currency.
ANZ's chief economist predicts that the Reserve Bank of New Zealand (RBNZ) will raise the official cash rate in July, with further increases expected before the upcoming election. This forecast suggests a tightening monetary policy.
Discussions are underway regarding whether the Reserve Bank of India's new asset-based norms for Non-Banking Financial Companies (NBFCs) will create an opportunity for Tata Sons to go public.
The Indian Rupee has led Asia's gains following the Reserve Bank of India's (RBI) significant clampdown on speculation, implemented to prevent its free fall. However, experts continue to debate whether these sudden and tighter controls, the biggest currency clampdown in a decade, risk backfiring and creating an impression of India stepping back from global financial market integration efforts.
India is reportedly exploring options such as payment lags and additional checks to protect senior citizens from the increasing threat of digital fraud, according to a paper from the Reserve Bank of India.
The Reserve Bank of India has kept its key interest rates unchanged, adopting a 'wait-and-watch' policy amidst an uncertain economic outlook influenced by the West Asia conflict. The central bank projects low growth and high inflation, with inflation risks for 2026-27 tilted to the upside and a specific projection of 4.6%.
The Governor of the Reserve Bank of India (RBI) has indicated that current curbs on the forex market will not be permanent, offering a potential outlook for the INR/USD exchange.
India's Reserve Bank of India is holding its Monetary Policy Committee meeting to decide on the repo rate, with Governor Sanjay Malhotra facing pressure to maintain stability as the country grapples with a potential $100 oil shock.
Federal Reserve Bank of New York President John Williams stated that the leadership of the Federal Open Market Committee (FOMC) remains stable despite delays in the confirmation process for Kevin Warsh.
Reports highlight key economic outlooks across Asia and provide updates on the Reserve Bank of India's (RBI) monetary policy, with the latest indicating the RBI is expected to keep rates steady and revise inflation and growth forecasts, alongside news of the KMT leader's visit to China.
FinanceTimes of Indiaindian-express3mo ago2 sources
The Indian rupee rebounded strongly, gaining 151 paise to 93.19 against the US dollar after the Reserve Bank of India (RBI) capped banks' net open positions, reinforcing its efforts to stabilize the currency.
The Reserve Bank of India is facing pressure to ease its new foreign exchange rules, which could lead to a significant $30 billion unwinding in the market.
A report from the Reserve Bank of India (RBI) highlights the Indian economy's continued exposure to energy price shocks, primarily due to its dependence on imports and the ongoing conflict in West Asia. The global uncertainty from the conflict has impacted emerging market economies like India through financial channels.
India's economy has received a significant boost, attributed to a decline in global oil prices and strategic measures implemented by the Reserve Bank of India.
Indian exporters have flagged credit concerns as the Reserve Bank of India reviews new Foreign Exchange Management Act (FEMA) rules, potentially impacting trade operations.
This article explains the Reserve Bank of India's revised Upper Layer NBFC rules and discusses their potential implications for Tata Sons, particularly regarding the requirement to go public.
A member of the Monetary Policy Committee indicated that the Reserve Bank of India might revise its growth projection for the country to exceed 7% this year.
The Reserve Bank of India (RBI) has reported a record surplus, but this financial achievement is accompanied by a warning. The article delves into the implications and potential concerns associated with this surplus.
The Reserve Bank of India (RBI) has clarified rules allowing overseas branches to lend to Non-Resident Indians (NRIs) for deposits in India, a move expected to support the Rupee.
Minutes from the Monetary Policy Committee meeting reveal the reasons behind the Reserve Bank of India's decision to maintain the status quo on interest rates.
The Reserve Bank of India (RBI) is offering a monthly stipend of Rs 1.5 lakh to young professionals, with details provided on how to apply for the program.
The Indian rupee strengthened against the US dollar, reaching a five-week high, driven by a significant drop in crude oil prices and recent measures by the Reserve Bank of India aimed at attracting investment.
The Bombay High Court has upheld the compulsory retirement of a Reserve Bank of India employee who was absent without authorization for nearly three years.
A fact-check has revealed that rumors about the Reserve Bank of India (RBI) replacing paper notes with plastic currency are false. The unit urged users to report suspicious content related to the Government of India to @PIBFactCheck.
The Reserve Bank of India has kept its repo rate unchanged at 5.25%, a decision expected to bring stability to the real estate sector by boosting buyer confidence and aiding developers' financial planning.
The Reserve Bank of India (RBI) is reportedly not intervening to combat the rupee's fall with the same intensity as it did during the 2013 crisis. This indicates a different strategy in managing the currency's depreciation.
The chief of the State Bank of India stated that India's growth momentum would stabilize if the Reserve Bank of India maintains its current interest rates.
The ongoing conflict involving Iran is creating a challenging policy dilemma for India's Reserve Bank (RBI) as it navigates concerns over inflation, economic growth, and the value of the rupee.
Amid rising inflation, the Reserve Bank of India (RBI) is grappling with the challenge of maintaining economic growth while simultaneously trying to control inflationary pressures.
The Reserve Bank of India is exploring the introduction of polymer notes, citing their durability and resistance to environmental factors relevant to India's climate.
The Reserve Bank of India's annual report highlighted volatility in foreign exchange reserves and significant net outflows of $16.5 billion in foreign portfolio investment during 2025-26, primarily from the equity segment.
A new study by the Federal Reserve Bank of New York indicates that more Americans are experiencing food insecurity now than at the height of the Covid-19 pandemic, particularly in lower-educated and lower-income households.
The Reserve Bank of India (RBI) acknowledges the impact of the West Asia crisis but expresses confidence in India's domestic resilience to counter negative effects.
More Americans are experiencing hunger this year than during the peak of the Covid-19 pandemic, according to a recent report from the Federal Reserve Bank of New York.
Research from the Federal Reserve Bank of New York indicates a 'remarkable' increase in food insecurity among low-income households, contributing to a widespread feeling of economic hardship in a K-shaped economy.
The Reserve Bank of India has reduced its risk buffer, citing macroeconomic factors, which resulted in a significant increase of Rs 92,000 crore in its dividend payment to the central government.
The Reserve Bank of India's 'State of Economy' report indicates that supply-side pressures are casting a shadow over India's near-term economic outlook.
The Reserve Bank of India (RBI) has proposed allowing banks to restrict or disable functionalities of mobile devices belonging to defaulting borrowers, provided the device was financed by the lender.
Austan Goolsbee, President and CEO of the Federal Reserve Bank of Chicago, was interviewed by NPR's Michel Martin regarding the latest consumer price index report and increasing inflation.
Federal Reserve Governor Christopher Waller stated that regional Federal Reserve banks will centralize some of their functions, streamlining operations across the system.
Analysts suggest that the rally of the Australian dollar (AUD/USD) could weaken as the Reserve Bank of Australia (RBA) is expected to moderate its interest rate increases.
Banks in India are closed on May 1st for a holiday, and the Reserve Bank of India (RBI) has released its full calendar of 12 bank holidays for May 2026, including weekends and regional observances.
Australia's inflation rate jumped to 4.6% in March, up from 3.7% the previous month, with financial markets anticipating a third consecutive interest rate hike by the Reserve Bank due to the impact of the Iran war on fuel prices.
An open letter addresses the Governor of the Reserve Bank of Zimbabwe, John Mushayavanhu, and Mthuli Ncube, expressing concerns about the country's financial direction.
FinanceReutersTimes of Indiaindian-express+1ndtv2mo ago4 sources
India's central bank, the Reserve Bank of India (RBI), has revoked the banking licence of Paytm Payments Bank. This decision effectively cancels the bank's ability to operate.
The Reserve Bank of India governor has highlighted inflation risks stemming from rising energy prices, the ongoing conflict in West Asia, and the potential impact of an El Niño weather pattern.
The Reserve Bank of India and the Bank of Greece have both flagged concerns about potential inflation spillover risks and intensifying price pressures in the coming months. These warnings are attributed to the ongoing conflict in the Middle East.
The Reserve Bank of India (RBI) has proposed a 'Kill Switch' mechanism to enhance payment safety, a measure designed to protect users from fraudulent transactions.
The Reserve Bank of India (RBI) has proposed a one-hour pause for high-value UPI payments, aiming to enhance security and reliability for users. While users may need time to adjust, industry leaders believe the time gap will make transactions safer.
The Reserve Bank of India (RBI) has put forward a proposal for a 'Kill Switch' mechanism aimed at enhancing the security of digital payment transactions. This feature would allow users to quickly disable their payment options in case of fraud or compromise.
The Reserve Bank of India has released a discussion paper outlining new safeguards for digital transactions, including a potential hour-long lagged credit for authorized push payments exceeding Rs 10,000.
The Reserve Bank of India (RBI) has proposed that implementing payment lags could be an effective measure to curb digital fraud. This recommendation aims to enhance security in digital transactions.
The Reserve Bank of India has maintained its repo rate, with analysts deeming the 'wait and watch' policy prudent amid economic outlook and growth concerns, indicating the central bank will not rush to reverse the rate cycle.
The Reserve Bank of India (RBI) has kept its repo rate unchanged at 5.25%, a decision that is influencing the home loan market and how buyers, investors, and developers approach it.
The Reserve Bank of New Zealand has held its official cash rate at 2.25%, making its first decision since the Iran war re-ignited, following earlier discussions comparing its economic options to Australia's.
Indian banks are facing increased costs for hedging options, attributed to recent actions by the Reserve Bank of India and escalating geopolitical uncertainties.
The Indian Rupee strengthened by 33 paise against the US dollar, reaching 92.85, after the Reserve Bank of India intervened to curb speculative positions. The central bank capped banks' net open positions to stabilize the currency.
India's central bank, the Reserve Bank of India (RBI), has extended the timeline for export realisation, providing trade relief amidst ongoing global disruptions.
India's Reserve Bank (RBI) has introduced a new foreign exchange cap in an effort to prevent a further slide in the rupee, a move that has reportedly caused concern among banks.
The Reserve Bank of India is reportedly considering the implementation of e-cheques as part of its ongoing efforts to modernize the country's payment infrastructure.
The Reserve Bank of India (RBI) has implemented new funding curbs, which are described as a 'body blow' to Indian proprietary trading firms, impacting their operations.
The Reserve Bank of India (RBI) has announced the opening of a redemption window for Sovereign Gold Bonds (SGBs) maturing between July and September 2026.
Measures implemented by the Indian government and the Reserve Bank of India on June 5 have successfully attracted eight months' worth of foreign money in just two weeks.
Tata Sons is experiencing increased pressure as the Reserve Bank of India (RBI) implements stricter norms for Non-Banking Financial Companies (NBFCs). This regulatory tightening poses new challenges for the conglomerate.
The Reserve Bank of India (RBI) has proposed new guidelines for banks to effectively manage risks associated with the adoption and use of Artificial Intelligence.
The selection of a new head for the Federal Reserve Bank of Atlanta presents an opportunity for new Fed Chairman Kevin Warsh to reshape the central bank's direction.
The Reserve Bank of India's monthly bulletin indicates that a potential monsoon shortfall could negatively affect the country's economic growth and inflation outlook.
The Reserve Bank of India (RBI) has approved a three-month extension for Keki Mistry as the interim chairman of HDFC Bank. This decision comes amidst ongoing discussions and without a public report from law firms regarding the matter.
The Reserve Bank of Australia has decided to keep its benchmark interest rate unchanged at 4.35%, while issuing a warning that inflation risks in the economy remain high.
The Governor of the Reserve Bank of India (RBI) has stated that differential rates on deposits that exceed the central bank's established norms are not acceptable.
The Indian government has increased its GDP growth estimate for fiscal year 2026 to 7.7%, following the Reserve Bank of India's decision to cut its forecast for FY27.
The Reserve Bank of India has kept interest rates unchanged, despite growing inflation risks, prompting questions about the central bank's monetary policy strategy.
Reserve Bank of Australia (RBA) Governor Michele Bullock indicated that the central bank is already observing evidence that its recent interest rate hikes are having the desired effect on the economy.
The Reserve Bank of India (RBI) has debunked a report claiming it sold $12 billion worth of gold to protect its foreign exchange reserves. The central bank stated that the report was incorrect.
Indian banks are reportedly advocating for the Reserve Bank of India (RBI) to reintroduce a high-risk 2013 playbook involving diaspora dollar deposits to help stabilize the rupee.
The Reserve Bank of Fiji (RBF) anticipates that increasing costs will lead to a slowdown in consumer spending. This outlook suggests potential economic challenges for the nation.
Federal Reserve Bank of San Francisco President Mary Daly stated that artificial intelligence is unlikely to cause mass unemployment or displacement but will create stress in the workforce.
The Reserve Bank of India's Annual Report indicates that bank frauds in India increased by 46 percent, reaching Rs 48,000 crore in the fiscal year 2026.
The Governor of the Reserve Bank of Fiji has stated that inflation is expected to increase in the coming months, indicating potential economic challenges for the nation.
The Reserve Bank of New Zealand (RBNZ) has initiated legal proceedings against Co-operative Bank for alleged breaches of anti-money laundering regulations.
Central banks, including the Federal Reserve Bank of New York and the Bank of England, have completed successful prototype tests of cross-border blockchain payments, enabling near-instantaneous settlement of transactions.
The Reserve Bank of India (RBI) Assistant Prelims Result for 2026 has been released, with instructions available on how to download scorecards from rbi.org.in.
BusinessTimes of Indiahindustan-times1mo ago2 sources
The Reserve Bank of India (RBI) has approved a record dividend transfer of ₹2.87 lakh crore to the central government for the fiscal year 2026. This amount represents a 6.7% increase from the previous year's dividend.
The Reserve Bank of India's board has approved a record surplus transfer of Rs 2.86 lakh crore to the government for the fiscal year 2026, significantly boosting government finances.
The Reserve Bank of India (RBI) is planning a $5 billion dollar-rupee swap auction in response to the rupee slipping past the 96-mark. This measure aims to inject equivalent cash into the market.
Minutes from the Reserve Bank of Australia meeting revealed that inflation is projected to remain above target until 2027 and showed an 8-1 vote for the recent rate hike. The RBA also expressed concerns that higher energy costs could quickly lift consumer prices.
India's Reserve Bank Governor indicated that the central government might increase fuel prices. This potential hike is contingent on the prolongation of the crisis in the Middle East.
According to a new report by the Federal Reserve Bank of New York, Americans collectively owe $1.25 trillion on their credit cards, showing a dip but maintaining a 'K-shaped' pattern.
The Reserve Bank of India (RBI) and the European Central Bank (ECB) have signed a revised agreement on banking cooperation, with ECB's Lagarde emphasizing the importance of sustaining global collaboration.
India's Reserve Bank of India (RBI) is increasingly repatriating its gold reserves from vaults in the UK and BIS, bringing them back to Indian shores. This move aligns with a broader trend seen among several other central banks, including those in France, Germany, and Serbia.
The Reserve Bank of Australia has issued a warning regarding the country's economic outlook, with concerns that recent rate hikes could trigger further increases.
The Reserve Bank of Australia (RBA) is widely expected to deliver a third straight interest rate hike this week, utilizing this tool to combat inflation despite external factors like surging oil prices.
Poonam Gupta, Deputy Governor of the Reserve Bank of India (RBI), stated that she is 'not worried at all about remittances' despite the ongoing conflict in West Asia. Her comments address potential economic impacts on India.
The Reserve Bank of India's short dollar book has surpassed $100 billion for the first time, reflecting significant activity in its foreign exchange operations.
This article outlines three important concepts – GPS interference, the Reserve Bank of India's Monetary Policy, and heatwaves – as crucial topics for the Prelims 2026 examination.
The Reserve Bank of India (RBI) acknowledges that the US-Iran conflict is testing the resilience of the global economy and could impact India's domestic supply chains, prompting a cautious yet confident outlook.
Customers of Paytm Payments Bank are seeking clarity on when they will receive their money back after the Reserve Bank of India took regulatory action against the bank.
The Reserve Bank of India Governor announced that India's inflation and external debt remain well within target levels, despite ongoing global economic shocks.
Anthropic is investigating reports of unauthorized users gaining access to its Mythos AI model, which has raised cybersecurity concerns. Central banks in Australia, New Zealand, and Japan are reportedly monitoring the AI model due to fears of potential cyberattacks.
Federal Reserve Governor Christopher Waller stated he would 'absolutely' oppose any move to fire regional reserve bank presidents based on disagreements over interest rate policy, emphasizing their in
Amid stock market risks stemming from potential conflict with Iran, interest in government bonds has been revived in India, with the Reserve Bank of India issuing various tenures.
The Reserve Bank of Malawi has disclosed that investigators traced 72.6 billion kwacha linked to financial flows associated with the controversial Amaryllis hotel deal, raising questions about its legitimacy.
India's Reserve Bank has proposed a mandatory one-hour delay for digital payments exceeding Rs 10,000, aiming to enhance security and reduce fraud in online transactions.
The Indian Rupee has weakened and foreign exchange reserves have declined as the Reserve Bank of India struggles to stabilize the currency amid depreciation pressure from the Iran conflict, which has also led to a decline in local stocks and bonds.
The Reserve Bank of India (RBI) is planning to revise its guidelines for bank boards, aiming to push on policy matters and enhance governance in the banking sector.
The Reserve Bank of India's Monetary Policy Committee kept the repo rate unchanged, with Governor Malhotra explaining that high-frequency indicators suggest strong momentum in economic activity, supported by robust private consumption and investment demand.
The Reserve Bank of Fiji (RBF) has confirmed the provision of physical identification documents for citizens who lack access to online services. This initiative aims to ensure all citizens can access essential services.
The Reserve Bank of New Zealand is anticipated to maintain its Official Cash Rate at 2.25% during its upcoming review, amidst global uncertainties including the Middle East conflict.
A research paper by the Federal Reserve Bank of Boston indicates that credit card APRs have a significant impact on consumer spending, with higher rates leading to less spending.