Federal Reserve begins two-day meeting on Tuesday with rate announcement due Wednesday afternoon
decisions by the Federal Reserve, Bank of England and Bank of Japan in the coming days.
European stock indexes ticked higher, with the pan-European STOXX 600 up 0.19%. Britain’s FTSE 100 rose 0.3% while Germany’s DAX fell 0.05%. “The whole debate now has moved from where is the peak for rates to how long do you stay at the peak for,” said Duncan MacInnes, investment director at British firm Ruffer.
The U.S. dollar index, which gauges the currency against six major peers, was roughly flat at 105.03, just below Thursday’s six-month high of 105.43. The Bank of Japan is expected to leave rates on hold in negative territory on Friday, although it too will be scrutinised for clues about the outlook after Governor Kazuo Ueda hinted at a move away from ultra-loose policy.
Global oil benchmark Brent crude futures rose to $95.15 a barrel, the highest since November 2022, and were last up 0.59% at $94.99.
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