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NEW YORK/LONDON: World stock markets rallied on Thursday and the U.S. dollar retreated from one-month highs as worries faded about contagion from China Evergrande and as investors digested the Federal Reserve's plans for reining in U.S. stimulus.
WHETHER investors run for the hills or not after the past week’s stock market shakeout, the episode provides a glimpse of where to run for cover – and the United States dollar came up trumps.
BRASILIA: Brazil’s central bank raised its benchmark interest rate by a full percentage point for a second straight meeting in an effort to control inflation that’s soaring toward double digits.
HONG KONG (AFP): Asian markets rose Thursday (Sept 23) as concerns about the collapse of troubled property giant Evergrande receded for now, while investors were also cheered by a Federal Reserve plan to begin scaling back its ultra-loose monetary policy soon.
WASHINGTON: The Federal Reserve said on Wednesday it will likely begin reducing its monthly bond purchases as soon as November and signaled interest rate increases may follow more quickly than expected as the U.S. central bank's turn from pandemic crisis policies gains momentum.
NEW YORK: Oil prices settled higher on Wednesday after U.S. crude stocks fell to their lowest levels in three years as refining activity recovered from recent storms
NEW YORK/LONDON: A gauge of global stock markets ended solidly higher and the U.S. dollar strengthened on Wednesday after the Federal Reserve cleared the way for the central bank to reduce its monthly bond purchases soon, while easing market jitters around property developer China Evergrande helped risk appetite.
TOKYO: The Bank of Japan (BoJ) kept monetary policy steady yesterday but offered a bleaker view on exports and output, reinforcing expectations the bank will maintain its massive stimulus even as major counterparts eye a withdrawal of crisis-mode support.
BENGALURU: Indonesian shares jumped nearly 1% on Wednesday to lead gains among most emerging Asian equities, as China Evergrande's promise to pay some bond interest calmed nerves, while Singapore stocks hit four-month lows due to a spike in COVID-19 cases.
WASHINGTON: The Federal Reserve is expected to clear the way on Wednesday for reductions to its monthly asset purchases later this year and show in updated projections whether higher-than-expected inflation or a resurgent coronavirus pandemic is weighing more on the economic outlook.