When Will The Fed Cut Interest Rates? We re In The Middle-Of-The-Road Path Of Cutting Gradually : Goldman Sachs benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
No Fireworks Expected From Fed Minutes mortgagenewsdaily.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mortgagenewsdaily.com Daily Mail and Mail on Sunday newspapers.
US stocks plunged sharply overnight, following Fed's decision to maintain the interest rate at 5.25-5.50%. While Fed finally dropped tightening bias, indicating the peak of the tightening cycle, it firmly dismissed the possibility of an imminent rate cut in March.
In a week crowded with high-profile events like FOMC rate decision overnight and the upcoming BoE meeting today, Japanese Yen is surprisingly stealing the show as the star performer in the currency markets. This rally in Yen's can be attributed to the significant drop in global benchmark treasury yields, driven by renewed flight to safety amidst fresh concerns over banking stability. The apprehension in the banking sector has prompted investors to flock to bonds. Meanwhile, it's also bolstering Yen, especially against Australian Dollar, which is currently under pressure due to more lackluster Chinese economic data.