European stocks digest the last decision from the Federal Reserve, which, as expected by markets, raised interest rates by 25 bp to the 0.5%-0.75% range. Ibex trades up and it is approaching to the 9,300 driven by the banks.
- 19.215,480
- -0,76%
- 11.551,600
- -0,16%
NO SURPRISES
The announcement of the rise in US rates did not catch anyone by surprise, it was what the market had been waiting for the last few months. But what was really important was to know what the US central bank's goals were. According to the average forecasted by Fed members, the rate target for 2017 improves to 1.37%, slightly above from the 1.31% expected in September, and it would mean 3 rate hikes throughout the year.
The American stock market did not received very well with these expectations and ended the session with a fall of 0.5%.
SPANISH BANKS THANKS THE RISE
The banking sector, which is one of the industries which is suffering negative interest rates in Europe, rises this Thursday on the expectation of a change in the monetary policies of the European Central Bank. The United States has already shown its cards. They expect to raise interest rates by three times over the next year, and European banks expect ECB to follow the same path.