World share markets edged higher on Thursday after the US Federal Reserve promised to keep its support in place, though another rise in global bond yields and the dollar showed not everyone was convinced.
The Federal Reserve says it will restore capital requirements for large banks that were relaxed as part of the Fed’s efforts to shore up the financial system during the early days of the pandemic.
World shares inched higher while US bond yields held near a 13-month peak on Monday on bets that economic growth would accelerate, even though investors became wary of the Federal Reserve and other key central bank meetings in the days ahead.
World stocks edged higher on Friday, but gains were capped by dwindling stimulus in the United States and concerns about the damage to the global economy from further COVID-19 infections. Hopes of a stimulus-led recovery receded after US Treasury Secretary
A flurry of interest rate cuts by the US Federal Reserve and a host of other central banks marks the broadest shift in global monetary policy since the depths of the financial crisis in 2009, analysts at Fitch Ratings said in a report.
After rolling out trillions of dollars in support for the US economy during the coronavirus pandemic, Federal Reserve officials have begun warning of potentially lasting scars to the workforce.
Powell warns of the threat of a prolonged recession resulting from the viral outbreak and urged Congress and the White House to act further to prevent long-lasting economic damage.
The Federal Reserve meets this week amid mixed signals on the health of the US economy, with some major sectors bouncing back from the coronavirus-caused downturn and others struggling.
The interest rates charged by the Emirates Inter-Bank Offered Rate (EIBOR) jumped across all terms post the Central Bank of the UAE increased on Thursday its base rate applicable to the overnight deposit facility (ODF)