All the day’s economic and financial events,including the US Federal Reserve’s rate decision, VW’s third-quarter results, or steel workers’ protests in WestminsterFull anecdote: VW posts first loss in 15 years
7.08pm GMTHeres our anecdote on the Federal Reserve’s decision,by Rupert Neate in current York:The Federal Reserve on Wednesday kept interest rates unchanged at their record low of near-zero, but raised the likelihood of a rate hike in December by dropping previous warnings approximately the fragility of the global economy.
Following a two-day assembly in Washington, or Fed policymakers voted to leave rates at 0-0.25% – where they have been before the whole of the seven years since the financial crisis. Related: Federal Reserve keeps interest rates unchanged but hints at December rise 6.46pm GMTThe Fed’s comments should please the European Central Bank,says Howard Archer of IHS Economics:The Federal Reserve’s assembly nowadays is the second successive central bank assembly that has delivered a kicking to the euro. The euro fell markedly against the dollar after the ECB indicated last week that further easing is firmly on the table in December including possible interest rate cuts. That saw the euro briefly dip below $1.10 after testing $1.15 a week earlier.
Now the Fed’s indication that the door is open to a US interest rate hike in December has given the euro a renewed downward jolt, which is just what the ECB wants. It has plunged back through $1.10 and is currently testing $1.09Continue reading...
Source: theguardian.com