Asian shares advance on US-China trade hopes, ECB stimulus

Money Control | Sep 13, 2019 at 8:19 AM
  • Asian stocks advanced on Friday as hints of progress in the US-China trade dispute and aggressive stimulus from the European Central Bank helped to counter worries about a global economic slowdown.
  • The European Central Bank delivered bigger-than-expected stimulus, cutting interest rates by 0.10 percentage point to minus 0.50 percent, promising that rates would stay low for longer and restarting bond purchases of 20 billion euros a month from November.
  • Fed funds rate futures price in an interest rate cut of 0.25 percentage point by the Fed next week but have effectively priced out any chance of a larger cut.
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