European Stocks Rally, Fed Signals Slower Rate Hikes as Major Central Banks Meet
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European stocks surge on Thursday after Fed signals interest rate cuts in 2023. Stoxx 600 hits highest level since January 2022.
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Fed keeps rates unchanged but indicates slower pace of hikes in 2023. Market hopes for at least 3 rate cuts next year.
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Investors await monetary policy decisions from ECB and Bank of England today.
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Russian President Putin says inflation in Russia may near 8% by year-end. Central bank has been rapidly hiking rates.
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Norway's central bank hikes interest rates by 25 basis points to 4.5%, despite expectations it would leave rates steady.