The US economy “remains strong”, the Federal Reserve chairman, Jerome Powell, told Congress on Tuesday as he signaled the central bank is on course to carry on gradually increasing interest rates in the coming months.
At this point, it’s more likely a matter of when -- not if -- the 10-year Treasury yield hits 3 percent. And that apparent inevitability raises a pressing question: How to trade when it happens?
The Board decided to leave the cash rate unchanged at 1.50 per cent.
The interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively.
The Committee decided to maintain the target range for the federal funds rate at 1-1/4 to 1‑1/2 percent.
Asian equities fell and U.S. stock futures headed lower, extending the biggest selloff for global stocks in two years as investors adjusted to a surge in global bond yields.
Outgoing Federal Reserve Chair Janet Yellen said U.S. stocks and commercial real estate prices are elevated but stopped short of saying those markets are in a bubble.
Bitcoin plummeted in value by more than $44bn (£30.9bn) in January, marking the steepest monthly fall in its short history.
As the terms of a Brexit remain uncertain, U.K. businesses are looking to tap into the Chinese market, more so than ever.
Thank you, Klaus, very much. It’s a privilege to be here at this forum where leaders in business, science, art, diplomacy, and world affairs have gathered for many, many years to discuss how we can advance prosperity, security, and peace.