Discover how reference rates like the SOFR and prime rate serve as benchmarks for setting interest rates, and explore their impact on mortgages and financial contracts.

After weeks of anticipation, the Federal Reserve trimmed its benchmark interest rate today, dropping the benchmark rate by another 25 basis points, marking its second rate cut of 2025. The move, which ...

The Federal Reserve said Wednesday it's keeping its benchmark interest rate unchanged, citing elevated uncertainty over the nation's economic outlook. The decision to hold rates steady marks a ...

Japan’s benchmark interest rate has risen to levels last seen just before the bubble economy collapsed in the early 1990s. The Bank of Japan (BOJ) raised its short-term policy rate, the benchmark ...