Investors were hoping to hear central banks finally signal this week that they were close to being done raising interest rates in their battle against inflation.
Instead, policymakers indicated that high rates are here for a while yet, with more hikes on the cards and few, if any, cuts in the near future.
The US Federal Reserve set the tone on Wednesday when it paused its rate-hike campaign but caused a stir by leaving the door open to another increase before the end of the year.
The central bank also unsettled investors by saying that only two cuts were expected next year instead of four as anticipated.
Register to read the full article.
Already have an account? Sign In.
Register for free for:
- Access to ten free articles per month
- Our weekly roundup of top stories
- Monthly newsletters on topics of your choice
- Unlimited article access each month
- Crosswords and puzzles on Canadian holidays
- Full newsletter access