European markets opened lower as investors awaited signals from the Federal Reserve on interest rate cuts. The Bank of Japan hiked its benchmark interest rate for the first time in 17 years, while the U.S. dollar rose against the Japanese yen. The focus remains on the Federal Reserve’s decision later Wednesday, with expectations for it to leave its main interest rate unchanged but possibly indicating future rate cuts.
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0 posts last weekAsian Markets Rise Ahead of Federal Reserve Guidance on Interest Rates
Asian markets were mostly higher ahead of the Federal Reserve’s expected guidance on interest rate cuts. The Bank of Japan raised its benchmark interest rate, while China left its lending rates unchanged. U.S. stocks rose to records on hopes for rate cuts, but recent reports on inflation may lead to fewer cuts than expected.
read moreWall Street Hits Record High Ahead of Federal Reserve Interest Rate Decision
The S&P 500 reached a new high ahead of the Federal Reserve’s interest rate decision. Stocks rose, with International Paper and Unilever making gains, while Nvidia and Super Micro Computer experienced fluctuations. The Fed is expected to maintain its interest rate, but uncertainty remains due to higher-than-expected inflation reports. Treasury yields eased, and Bitcoin’s price continued to decline. In global markets, Japan’s Nikkei 225 rose after the Bank of Japan’s interest rate hike, while stocks fell in Hong Kong and Shanghai due to China Evergrande Group’s regulatory fine.
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