News Formal

Market awaits Fed signals from Jackson Hole

  • 📰 fmtoday
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 72%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

Analyst expects hawkish stance on interest rates to be maintained.

KUALA LUMPUR: The ringgit opened lower against the US dollar this morning as market participants await more signals from the US Federal Reserve ahead of the Jackson Hole Symposium, said an analyst.

“Richmond Fed president Thomas Barking indicated that the Fed might lose its credibility if it changes the inflation target of 2%. Such remarks came amid calls by some prominent economists to consider raising the bar to above 2%. At 9am, the local note fell to 4.6555/4.6590 against the greenback from 4.6465/4.6495 at Tuesday’s close.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in UK

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

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

S&P 500, Nasdaq gain as investors await Nvidia earnings, Jackson Hole meetNEW YORK, Aug 21 — The S&P 500 and Nasdaq climbed today as Nvidia shares rose ahead of the chip designer’s earnings this week, with investors also focused on a meeting of...
Source: malaymail - 🏆 1. / 86 Read more »