Market Quote : Broader rate hike expectation has reduced from 50bps to 25bps Says Vinod Nair, Geojit Financial Services
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Below is on Market Quote 15 March 2023 By Vinod Nair, Head of Research at Geojit Financial Services
The in-line data showing a decline in US inflation provided a gap-up opening in context with the global relief rally, bringing confidence that the Fed would not opt for a harsh rate hike following the turmoil in the banking sector. Broader rate hike expectation has reduced from 50bps to 25bps and there are possibilities that the Fed may even consider not to hike in the March policy meeting. Domestic gains were short-lived, as European markets fell on fears that the ECB would raise interest rates by at least 25 bps at its meeting on Thursday, high interest rate is the worry of the stock market.
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