US Fed Reserve, Bank of England leave markets seeing red

LONDON: Updates from the US Federal Reserve and the Bank of England left markets on the back foot on Thursday as investors weighed their messages on the outlook for growth and monetary policy.Advertisement

The comments came after the Fed's latest policy meeting and sank faint hopes that the US central bank would announce a rate cut later in the year.It went also against a call from US President Donald Trump to ease borrowing costs to help bolster the economy. Meanwhile, the Bank of England on Thursday raised its forecast for UK economic growth this year to 1.5 per cent from 1.2 per cent, as stockpiling offsets lower business investment elsewhere ahead of Brexit.

Chinese negotiators head to Washington next week for another round, with CNBC citing unnamed sources as saying a deal could be signed at the end of next week.

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