A look at the morning’s stock market action
for longer than expected. The Fed’s latest quarterly summary of economic projects now sees the bank’s policy rate at 5.1 per cent by the end of next year, up from 4.6 per cent at the end of September.
On Thursday, the Bank of England and the European Central Bank are both expected to also hike borrowing costs. Overseas, the pan-European STOXX 600 was down 1.28 per cent in morning trading. Britain’s FTSE 100 fell 0.85 per cent. Germany’s DAX and France’s CAC 40 were off 1.18 per cent and 1.28 per cent.Commodities
“There remains immense uncertainty over the outlook for crude demand and supply which is leading to plenty of volatility in oil markets,” OANDA senior analyst Craig Erlam said. The company said in a statement on Wednesday that it had given notice to regulators and customers about the restart of pipeline sections unaffected by the incident. The segment of the pipeline where the incident occurred remains sealed off, according to Reuters.
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