Shares open higher as techs rallied strongly in New York; Oil falls sharply; RBNZ poised to slash its key rate. Follow updates here.
Federal Reserve Vice Chair Philip Jefferson said risks to the central bank’s employment and inflation goals are now closer to equal. “The balance of risks to our two mandates has changed — as risks to inflation have diminished and risks to employment have risen, these risks have been brought roughly into balance,” Jefferson said Tuesday in prepared remarks for an event at Davidson College in North Carolina.
Fed officials lowered interest rates at their meeting last month for the first time since the onset of the pandemic, reducing them by a half percentage point. The move came amid further signs of cooling inflation and growing concerns about the labor market. Forecasts released the same day showed the median projection from Fed officials called for an additional 50 basis points in reductions this year, implying smaller, quarter-point cuts at each of their two remaining meetings in 2024.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX 200 LIVE: ASX to rise after Wall Street rebounds, consumer confidence data pendingAustralian shares are set to open higher. The Dow paced a modest buy-the-dip rally. Consumer and business confidence data pending. Follow updates here.
Read more »
ASX 200 LIVE: ASX to edge up, RBA speech, US August CPI awaitedMining and oil stocks play tug-o-war with ASX. Techs paced gains in New York. ASX gets new chairman. Melbana Energy soars 40pc on takeover offer. Follow for more
Read more »
ASX 200 LIVE: ASX to fall, S&P 500 ends modestly lower after Fed cuts ratesASX shrugs off poor pre-market trading to chart new high. US stocks closed lower after Jerome Powell dashed hopes for aggressive rate cuts. Follow updates here.
Read more »
ASX 200 LIVE: ASX to rise, S&P 500 closes at a record highLocal shares to rise after Wall St records reset. BHP, Rio rally in New York. $A leaps as does bitcoin. Myer results pending. Follow updates here.
Read more »
ASX 200 LIVE: ASX to slip, RBA rate decision pendingShares are set to open down; RBA expected to hold rates steady, decision at 2.30pm AEST; gold resets record. Follow updates here.
Read more »
ASX 200 LIVE: ASX dips as banks and supermarkets sink; BHP ralliesShares fall; Iron ore spikes on China rate cut; Light & Wonder dives after losing in Nevada; Cettire releases audited results. Follow updates here.
Read more »