A slump in the dollar after the Federal Reserve’s latest interest-rate hike will be a breath of fresh air for emerging-market policymakers as it puts a floor under their currencies and eases their efforts to control inflation.
The Philippine central bank shifted to a smaller interest-rate increase and cut inflation forecasts, signaling it may be at the tail end of its most aggressive monetary tightening in two decades.
European stocks fell as investors awaited key rates decisions in the region. US equity futures climbed, signaling a recovery following a tumultuous day of losses on Wall Street Wednesday.
Coinbase Global Inc. said it received a notice from the SEC formally declaring the securities regulator’s plans to bring an enforcement action against the largest US crypto exchange, the latest development in a long-running dispute between the watchdog and the digital-asset company. The stock slumped as much as 14% in premarket trading on Thursday.
The Swiss National Bank raised its interest rate by 50 basis points and signaled more to come as it resumed its inflation fight just days after the downfall of the country’s second-biggest bank became the epicenter of global financial turmoil.
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