HONG KONG, China—Stocks and oil prices rose while the dollar weakened Thursday as a much-needed burst of confidence flows across world markets after the Federal Reserve hinted it has come to the end of its long-running interest rate hiking cycle.
However, while he left the door open to more increases down the line, he said that “tighter financial and credit conditions for households and businesses are likely to weigh on economic activity, hiring and inflation”. The pause comes after the Fed began hiking rates early last year to combat surging inflation in the wake of the Ukraine invasion, tight supplies and supply chains, and a surge in post-Covid demand for goods.
Traders are now awaiting a decision by the Bank of England later in the day, with dealers betting on it to also pause. The drop in rate hike expectations — some put the chances of a December lift at about 20 percent, from 30 percent previously — saw the dollar fall against its peers.
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Stocks rally and dollar drop on hopes Fed rates have peakedStocks and oil prices rose while the dollar weakened Thursday as a much-needed burst of confidence flows across world markets after the Federal Reserve hinted it has come to the end of its long-running interest rate hiking cycle.
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