Investing.com - European stock markets rose strongly Thursday as investors digested the aggressive start to the Federal Reserve’s easing campaign, ahead of the Bank of England’s latest policy-setting meeting.cut interest rates by 50 basis points on Wednesday, reducing its benchmark rate to a range of 4.75% to 5%, as the central bank aggressively started a rate-cut cycle to shore up the economy following a prolonged battle against surging inflation.
Additionally, the Fed members now see a further two cuts of 25 bps in 2024, compared with a prior estimate in June for just one cut. The decision to cut rates, for the first time since March 2020, so assertively may raise concerns about the strength of the US economy, but Fed Chair Jerome Powell attempted to quell these worries, stating that risks of higher inflation and a weakening labor market were now balanced.The BoE is expected to keep its benchmark rate unchanged at 5.0%, after cutting in August, with policymakers likely to reiterate their"careful" stance against easing too fast or too soon.came in at 2.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.would like to remind you that the data contained in this website is not necessarily real-time nor accurate.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »