Euro Ties to Yen Tightest Since 2007 as Havens From Fed, China

31 Aug 2015 | Author: | No comments yet »

World stocks fall after Fed suggests Sept rate hike possible.

BEIJING — Global stocks were mostly lower Monday after a U.S. Federal Reserve official suggested a September interest rate hike still was possible and weak Japanese factory activity provided more evidence of a sluggish global economy. Speaking at the U.S. central bank’s annual gathering in Jackson Hole, Wyoming, Fisher emphasized he was not saying what action the Fed might take at its September meeting but analysts took his comments to mean he saw the economy moving close to satisfying the Fed’s conditions for a hike. JAPAN WEAKNESS: Industrial production declined unexpectedly by 0.6 percent in July from the previous month, defying forecasts of a small increase following June’s 1.1 percent rise. “The drop in industrial production in July suggests that economic activity will recover only slowly this quarter,” said analyst Marcel Thieliant of Capital Economics in a report.

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