Stocks strengthen after Australian central bank holds rates

📆 04/07/2023 03:30:00
📰 ReutersAfrica

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Asian stocks rose on Tuesday afternoon after Australia's central bank held interest rates steady, which helped ease investor worries about over-tightening of policies by central banks.

Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. REUTERS/Issei Kato/File Photointerest rates steady, which helped ease investor worries about over-tightening of policies by central banks.edged up by 0.3% by Tuesday early afternoon, reversing mild losses in the morning.added 0.5%. The Reserve Bank of Australia kept its cash rate at 4.10%, saying it wanted more time to assess the impact of past hikes.

"Central banks, especially those in the Asia Pacific region, have no choice but to rebalance their hawkish stance," he said.

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Stocks dip, dollar steadies as investors seek rates clarityMost Asian stocks fell on Tuesday, while the U.S. dollar and oil steadied, as investors held safe ranges awaiting more clues on whether central banks will continue their aggressive interest rate hikes.
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