Asian stocks held near eight-month highs on Thursday and the dollar slipped agai...
SYDNEY - Asian stocks held near eight-month highs on Thursday and the dollar slipped again on expectations global interest rates will stay lower for longer after a dovish turn by the European Central Bank and milder than expected U.S. inflation.
But investors’ risk appetite was generally capped by U.S. threats earlier this week to slap tariffs on goods from the European Union. “There have also been easings in Asia. That is a reasonably positive backdrop for equities,” Oliver added.On Wednesday, the European Central Bank kept its loose policy stance and warned that threats to global economic growth remained. The ECB has already pushed back its first post-crisis interest rate hike, and President Mario Draghi raised the prospect of more support for the struggling euro zone economy if its slowdown persisted.
Minutes from a March 19-20 meeting of Federal Reserve policymakers showed they agreed to be patient about any changes to its interest rate policy as they saw the U.S. economy weathering a global slowdown without a recession in the next few years. U.S. Treasury Secretary Steven Mnuchin said on Wednesday the United States and China have largely agreed on a mechanism to ensure that both sides stick to the deal, including establishing new “enforcement offices.”
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