Page 57 - Eco News Today

Indian shares advanced on Friday aided by broad gains across sectors, with benchmarks nearing record high levels, after economic data from the U.S. boosted bets that Fed may be less hawkish than expected.

Stock markets in the United Arab Emirates ended higher on Friday on expectations that the Federal Reserve was close to the end of its rate-hike cycle.

Turkey's central bank is expected to raise its policy rate by a huge 1,150 basis points next week, from 8.5% to 20%, a Reuters poll showed on Friday, in a policy U-turn after rate cuts under President Tayyip Erdogan led to a cost-of-living crisis.

Nigeria's High Court has ordered the country's state security service to allow detained central bank governor Godwin Emefiele access to his lawyers, an interim court ruling seen by Reuters showed on Friday.

Tunisia's central bank held its key interest rate unchanged at 8%, it announced on Friday, saying that keeping the interest rate at the current level will continue to push inflation downward.

A look at the day ahead in European and global markets from Vidya Ranganathan

Federal Reserve Chairman Jerome Powell said on Wednesday that financial conditions are likely to allow the central bank to press forward with the drawdown of its massive balance sheet through the remainder of the year.

China's central bank cut the borrowing cost of its medium-term policy loans for the first time in 10 months on Thursday, in line with expectations, as Beijing ramps up stimulus measures to shore up a shaky economic recovery.

Asian stocks braked around two-month highs on Thursday, while the dollar nursed modest losses, after the U.S. Federal Reserve chose not to hike interest rates for the first time in 17 months, even if it opened the door to more hikes ahead.

New home sales in Singapore jumped to the highest in a year, official data showed on Thursday, despite a hike in taxes a month earlier to try to cool the market and discourage foreign buying.