Asian stocks rose on Wednesday following reports of Chinese stimulus and amid hopes that the U.S. Federal Reserve will maintain its dovish policy stance.
On Tuesday, Chinese website Sina.com said the People’s Bank of China (PBOC) injected $82 billion into the country’s five largest banks. Many investors were anticipating some form of stimulus from the central bank following a spate of recent weak economic data.
Later Wednesday, the Fed ends a two-day policy meeting. Many experts were bracing for more hawkish language, but a shift in expectations occurred overnight after Wall Street Journal journalist Jon Hilsenrath argued that the Fed wouldn’t make any major change in its statement.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015