Global Stock Markets Rose After Fed Taper Decision

December 19, 2013 Share Print 0

Stock markets rallied after the US Federal Reserve’s commitment to keep interest rates low offset its decision to taper its stimulus programme.

The UK’s FTSE 100 rose 1%, while Germany’s Dax and France’s CAC were 1.5% in mid-morning trading. Japan’s Nikkei 225 closed up 1.7%.

The Fed said it would scale back its $85bn (£51.8bn) a month bond-buying programme by $10bn a month.

Analysts said the taper was less than markets had expected.

via BBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.