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Footsie falters ahead of Fed's rates call
Evening Standard
|September 18, 2024
DECISION day on the long-awaited opening cut in US interest rates today kept London traders in defensive mode during a poor session for the FTSE 100 index.
In the hours before to night’s announcement, Wall Street was still split over whether the Federal Reserve chaired by Jerome Powell, would move by a more forceful 0.5%.
Deutsche Bank said: “You’d have to go back over 15 years to find such an uncertain situation this close to the decision. A lot of money will be made and lost today.”
Rates are at a 23-year high of 5.25%5.5%, with the Federal Reserve keen to avoid having policy in restrictive territory for too long now that inflation is under control.
This story is from the September 18, 2024 edition of Evening Standard.
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