SYDNEY : Share markets firmed on Thursday after the U.S. Federal Reserve engineered an orderly start to unwinding its massive stimulus programme, though doubts about the inflation outlook did push up longer-dated bond yields.
Anxious eyes now turn to the Bank of England which may kick off a rate hike cycle later in the day with uncertain implications for debt markets globally. MSCI's broadest index of Asia-Pacific shares outside Japan crept up 0.5per cent. The index has been burdened by a spike in new coronavirus cases in China, which threatens to curb consumer spending in an already slowing economy.As expected, the Fed announced it would trim its bond buying by US$15 billion a week from this month, while leaving open the option to quicken or slow the pace as needed.
"While not an ultra-dovish meeting, the result was still a far cry from some of the more stunning hawkish surprises seen recently from the likes of the Bank of Canada," added Nevruzi.
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »