Powell says one-time increases in prices likely to have only transient impact on inflation Powell says a transitory rise in inflation above 2% will not meet standard for raising rates Powell says economy is a long way from employment, inflation goals Powell says not time to start talking about taper yet Powell says we will want to provide as much advance notice of taper as possible Powell says when we see data that shows we are on track to achieving substantial progress, we will say that Powell says ‘strong bulk’ of FOMC is not showing a rate increase through 2023 Powell says we will have something to announce on leverage ratio in coming days
By Reuters Staff
1 Min Read
FILE PHOTO: Chairman of the Federal Reserve Jerome Powell listens during a Senate Banking Committee hearing on The Quarterly CARES Act Report to Congress on Capitol Hill in Washington, U.S., December 1, 2020. Susan Walsh/Pool via REUTERS/File Photo
(Reuters) - Federal Reserve Chair Jerome Powell said on Wednesday that the U.S. central bank will share an update on a bank liquidity rule in the “coming days.”
An exemption on the “supplemental leverage ratio” was put in place at the start of the coronavirus pandemic to encourage big banks to lend and support bond and short-term funding markets. The exemption, which reduced the amount of capital banks must hold against Treasurys and some deposits, is currently set to expire on March 31.
Asian stocks rose on Tuesday, tracking an advance by Wall Street's main indexes to record highs, as investors looked to key central bank meetings this week, starting with the U.S. Federal Reserve. An index of the region's share markets excluding Japan strengthened 0.7%, led by a 1.2% jump in Australia's benchmark S&P/ASX 200 index. Japan's Nikkei 225 gained 0.6% to just below the closely watched 30,000 mark, while the broader Topix added 0.5%.
Gold edged lower on Tuesday, pressured by an uptick in the dollar, as investors awaited policy cues from a two-day U.S. Federal Reserve meeting. Spot gold fell 0.2% to $1,729.21 per ounce by 12:37 P.M EDT (1637 GMT). U.S. gold futures were down 0.1% at $1,727.20.
Updated Mar 16, 2021 | 11:16 IST
Gold, silver price today: In the international market, spot gold price was up 0.33% at $1,734.80 per ounce and silver was trading 0.33% higher at $26.380 per ounce. Gold, Silver price today
New Delhi: Gold price edged higher on Tuesday while silver price was little changed tracking muted cues from global markets. On the Multi-Commodity Exchange (MCX), gold April futures were trading higher by 0.13% at Rs 44,960 for 10 grams at 11:10 am. The yellow metal witnessed a high of Rs 44,979 during intraday trade. Meanwhile, silver futures for May delivery, were trading 0.12% higher at Rs 67,750.
Analysts say MCX gold has support near Rs 44,600 levels while the metal faces resistance at Rs 45,200. Meanwhile, silver is expected to take support at Rs 66,000 levels and resistance at Rs 68,200 level.