The global stocks index touched a fresh record high on Friday. PHOTO: EXPRESS
NEW YORK: A global stocks index touched a fresh record high on Friday, wrapping up a week when many of the world’s major central banks either raised interest rates or signalled they might do so, underlining confidence about economic growth and inflation. The US dollar slipped, continuing its slide in the wake of the Federal Reserve’s decision on Wednesday to boost interest rates but maintain a gradual pace of hikes this year. Investors were also watching a meeting of global finance chiefs in Germany beginning on Friday. The world’s financial leaders will renounce competitive devaluations and warn against exchange rate volatility, a document showed.
Published in The Express Tribune, March 19th, 2017.
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