Global stocks bleed as U.S. Federal Reserve sees tepid global growth in the near term

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Three of the world’s most powerful central banks – the U.S. Federal Reserve, the Bank of Japan (BoJ), and the Bank of England (BoE), at the end of their bi-monthly monetary policy meeting this week, all retained their benchmark interest rates at historic lows of 0.25% (the U.S.), -0.10% (Japan), and 0.10% (England), as the global economy continues to push for a recovery from the COVID-19 pandemic induce downturn.

Besides, the U.S. Federal Reserve in a press release after its policy meeting on Wednesday hinted that its benchmark interest rate may remain near zero per cent till 2023, as its the current projection shows that economic growth in the U.S. and the world at large will remain tepid in few years to come.

As the news of the U.S. FED position filters into the global market, several investors across our coverage market dumped their equity assets, save for in China and Brazil where investors sentiment remained firm, as a result of reduced cases of fresh COVID-19 infection.

GTI Research

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