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Market Quote : Although the Fed`s decision to increase rates by 25 basis points was in line with expectationsSays Vinod Nair, Geojit Financial Services
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Below is on Market Quote 23 March 2023 By Vinod Nair, Head of Research at Geojit Financial Services
Although the Fed's decision to increase rates by 25 basis points was in line with expectations, concerns were raised by the U.S. Treasury Secretary's statement that blanket insurance for all deposits was not being considered. The domestic market attempted to recoup its initial losses with the help of favourable U.S. futures as the Fed hinted at its plan to pause rate hikes sooner. However, the recovery was short-lived due to a sluggish start in the European market led by a 50bps hike by the Swiss National Bank.
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