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- Asia markets mostly higher as Fed slashes rates
Asia markets mostly higher as Fed slashes rates
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Loading...Stocks in Asia traded higher Thursday morning after the U.S. Federal Reserve cut interest rates for the third time this year and indicated the possibility of a pause in easing monetary policy.
Investors watch for market reaction to the Federal Open Market Committee’s overnight decision to cut its benchmark funds rate by 25 basis points. The central bank also removed a key phrase from its statement that said it will “act as appropriate” to sustain the current expansion.
Federal Reserve Chairman Jerome Powell said in a press conference following the decision that the central bank would need to see a “really significant”rise in inflation before the Fed thought about hiking.
Shares of Apple suppliers in the region will also be watched, after the Cupertino-based tech giant reported on Wednesday fourth quarter earnings that bested expectations while signaling a big holiday quarter ahead. Apple CEO Tim Cook said in a statement: “We’re very optimistic about what the holiday quarter has in store.”
At 05:00 (GMT+3) Japan is expected to announce BOJ interest rate decision, followed by s press conference at 08:30 (GMT+3).
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