Asian shares climb after Powell calms market
The US Federal Reserve chair says rates will stay low for a long time, calming the fear that higher inflation might lead to tighter monetary policy
25 February 2021 - 07:33
Tokyo/Miami — Asian stocks jumped on Thursday after US Federal Reserve chair Jerome Powell reaffirmed interest rates would stay low for a long time, calming market fears that higher inflation might prompt the central bank to tighten the monetary spigot.
Powell’s reassurance gave a fresh impetus to reflation trades and boosted risk asset prices while also driving US bond yields back up to one-year highs...
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