The Fed left its benchmark funds rate window at 5-5.25%, and chair Jerome Powell said the U.S. central bank needed to gather more information about the economy to determine what to do next.
Committee members surprised markets by projecting two more 25 basis point hikes this year, sending short-term U.S. yields higher and closing out bets on any cuts in 2023.meeting later in the day where markets expect an eighth straight rate hike will take borrowing costs to two-decade highs.
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Nigerian banking stocks rise 8% after central bank governor suspendedNigeria's banking stock index rose more than 8% on Tuesday as local investors reacted to the suspension late last week of central bank governor Godwin Emefiele, who oversaw restrictive policies that cramped their earnings.
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Oil prices dip after unexpected rise in US crude stocksOil prices inched higher on Wednesday after industry data showed an unexpected rise in U.S. crude stocks, signalling weak demand to markets already worried about recession and disappointing Chinese economic data.
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Nigerian Stocks Hit 15-Year High On Suspension of Central Bank GovernorNigerian Stocks Hit 15-Year High On Suspension of Central Bank Governor PremiumTimesng: Nigeria
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SANBS appeals for more blood donations as stocks plummetSANBS appeals for more blood donations as stocks plummet: The South African National Blood Service (SANBS) needs to collect 3,500 units of blood a day and Khensani Mahlangu, communications specialist at the service says that there’s an urgency in…
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Stocks rise, dollar pares losses after Fed signals more hikes aheadMSCI's global equity index closed slightly higher on Wednesday after a volatile afternoon while the dollar cut its losses after the U.S. Federal Reserve paused interest rate hikes as was widely expected but signalled that it could raise rates by another half percentage point by year-end.
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