Banco Central do Brasil hikes its benchmark interest rate to 6.25% from 5.25%.
Headlines via Reuters from the statement (bolding mine):
- decision was unanimous
- sees rate hike of the same magnitude at next meeting
- in the current phase of rate hike cycle, this pace of adjustments is best to guarantee the anchoring of inflation expectations
- sees robust economic recovery in the second half of year
- baseline scenario and balance of risks indicate that an interest rate hike cycle should advance into contractionary territory
- elevated fiscal risk creates an upward asymmetry in the balance of inflation risks
- the current pace of rate hikes will allow the committee to obtain more information regarding the state of the economy and the persistence of shocks
- price increases for industrial goods have not subsided and should remain a pressure in the short run.
- new round of market discussion regarding inflationary risks in advanced economies could result in a challenging environment for emerging economies
Too early to begin throwing around numbers on how much tapering the Federal Open Market Committee will announce?
The meeting today, September’s, in brief:
Latest from Musk on crypto:
Musk has got himself a rep for moving crypto prices. This one should be a bullish input for DogeCoin and other crypto. Who doesn’t like falling fees?
Nasdaq up for the 2nd consecutive day.
The US stock market made through the taper talk from the Fed Chair Powell. The indices also have the positive from less bearish implications from the China Evergrande situation.
The final numbers are showing:
- Dow industrial average up at 338.48 points or 1.0% at 34258.33
- S&P index up 41.45 points or 0.95% 4395.63
- NASDAQ index up 150.46 points or 1.02% at 14896.86
- Russell 2000 rose 32.38 points or 1.48% at 2218.56
- Dow the S&P have the best day since July 20
- Utilities and healthcare lag
- Financials and energy lead the gains
- NASDAQ closes higher for the second consecutive day
- S&P and Dow snapped the four day losing streak.
Although the major indices closed with solid gains, they also closed off their highs for the day.
- Dow traded as high as 34440.42 up 520.58 points
- S&P traded as high as 4416.75, up 62.56 points
- NASDAQ index traded as high as 14950.10, up 203.70 points.