Global equity markets were mixed on Friday as traders continued to grapple with long-term interest rate concerns. The U.S. Federal Reserve\’s decision to further increase borrowing costs and hold them there has resulted in a drop in global equities throughout the month of February. Focus has now shifted to the release of the personal consumption expenditures (PCE) price index, the U.S. central bank\’s preferred gauge of inflation. The release of jobless claims figures showing fewer than expected last week has further complicated the Fed\’s task of bringing inflation down without hurting the economy. Asian markets were mostly down on Thursday, however Tokyo\’s Nikkei 225 rose 1.3 percent after Japan\’s incoming central bank head made the case for keeping its ultra-loose policy. London, Paris and Frankfurt opened higher, while the Dow Jones in New York closed up 0.3 percent. The yen swung against the dollar in a narrow range following the statement, with City Index\’s Matthew Simpson noting that Ueda\’s comments did not bring a hawkish twist to the Bank of Japan.
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