Stocks drop as central banks meet after ‘higher for longer’ Fed view

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Reuters UK

By Amanda Cooper LONDON (Reuters) – Global shares slid for a second day on Thursday as major central banks deliver their final policy decisions of the year, with the U.S. Federal Reserve signalling that it expected interest rates to stay higher for longer. In Europe, the Swiss National Bank delivered an expected half-point hike that brought rates to a 14-year high of 1%. The franc reversed early losses and rose against the euro as well as the dollar after Chairman Thomas Jordan said the central bank will keep propping up its currency. Hot on the heels of the Swiss, the Norges Bank raised rates…

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