Market Quote : The market now anticipates a 50 bps rate hike Says Vinod Nair, Geojit Financial Services
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Below is on Market Quote 08 March 2023 By Vinod Nair, Head of Research at Geojit Financial Services
The global market has fallen back into the grip of uncertainty as the Fed chief signalled the possibility of a prolonged and faster rate hike, contradicting a dovish comment made by another Fed official last week. The market now anticipates a 50 bps rate hike, which has pushed the dollar index to a three-month high. However, a strong recovery was seen in the domestic market towards the end of the day, which kept the bulls on the move.
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