Live coverage of the opening session of the National People's Congress is shown at a shopping mall in Qingzhou, China.PARIS - Major stock markets mostly rose Monday, with Paris briefly reaching a fresh record, as traders reacted to indications the Federal Reserve could soon end a policy of hiking interest rates.
Federal Reserve Chair Jerome Powell is set to discuss monetary policy before the House and Senate committees on Tuesday, proceedings that will be scrutinised by investors seeking rate outlook clues. The world's second-largest economy grew three percent last year, missing its target of around 5.5 percent under the impact of strict Covid-19 containment policies and a property crisis."China set itself one of the lowest gross domestic product target in many years, hinting to investors that the big reopening boom may not be as positive for the global economy as hoped," noted Neil Wilson, chief market analyst at Finalto trading group.
While markets were surprised by the Chinese announcement, OANDA analyst Craig Erlam said the lack of considerable stimulus to turbo-charge the economic recovery may be a blessing in disguise.
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