Asian stocks jump as US sticks to rate cut plan

SINGAPORE - Asian shares bounced while gold prices and Japan's Nikkei jumped to record highs on Thursday after the U.S. Federal Reserve indicated it would stick with plans for cutting interest rates.

"The projections suggest that they expect to ease monetary policy even if core inflation is running higher," said Standard Chartered strategist Steve Englander. Fed Chair Jerome Powell told reporters sticky inflation reports show price pressures but "haven't really changed the overall story, which is that of inflation moving down gradually".

"Over a more medium-term horizon, rates are going to be cut. This is always going to have a positive impact on gold prices and that factor continues," said Shafali Sachdev, head of investment services in Asia at BNP Paribas Wealth Management.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Asian shares mostly lower, Japan's Nikkei 225 falls 2.5%BEIJING (AP) — Asian shares were mostly lower on Monday after Wall Street’s huge rally faltered last week. Japan’s Nikkei 225 index shed 2.5% to 38,704.10...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian stocks gain ahead of US and Japan rate decisionsHONG KONG (AP) — Asian stocks advanced Monday ahead of policy decisions this week by Japan’s central bank and the Federal Reserve. Oil prices and U.S...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian stocks gain ahead of US and Japan rate decisionsHONG KONG (AP) — Asian stocks advanced Monday ahead of policy decisions this week by Japan’s central bank and the Federal Reserve. Oil prices and U.S. futures rose.
Source: SooToday - 🏆 8. / 85 Read more »