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Stock market today: Global stocks are mixed as central banks hold off on rate cuts

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China,Indonesia,General News

European markets have opened higher after a mixed day of trading in Asia. Trading was thin after U.S. markets were closed in observance of Juneteenth. The Bank of England was expected to keep its main interest rate at a 16-year high of 5.25% at a policy meeting Thursday.

People stand in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm in Tokyo, on Thursday, June 20, 2024. A person walks in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Thursday, June 20, 2024, in Tokyo. A person walks in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Thursday, June 20, 2024, in Tokyo.

The Chinese yuan was trading at its lowest level this year, with the central parity rate set at 7.1192 yuan to the U.S. dollar, according to the China Foreign Exchange Trade System. The Chinese central bank kept its one-year lending benchmark rate unchanged at 3.45% and the five-year loan prime rate at 3.95% on Thursday. The one-year loan prime rate serves as a benchmark for most corporate and household loans, while the five-year rate is used as a peg for real estate mortgages.

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