Frankfurt shares end: profits – but ‘monetary policy patchwork’
The Frankfurt skyline in the afterglow (symbolic picture). © jotily / iStock / Getty Images Plus / Getty Images
FRANKFURT (dpa-AFX) – The monetary policy course of the US Federal Reserve (Fed) to combat inflation was well received on the stock exchanges on Thursday. Nevertheless, profits crumbled in the course of trading, because further central bank decisions in China, Great Britain and the euro zone caused new uncertainty, according to market analyst Jochen Stanzl from CMC Markets.
In the US, the Fed wants to get out of its extremely loose monetary policy faster than previously intended and has indicated three rate hikes for the coming year. This gives way to an important element of uncertainty. This is because the key interest rate in the US is rising “faster, but not higher in the long term,” as analyst Birgit Henseler from DZ Bank commented. The Fed wants to “act sooner” so that “it no longer has to be more aggressive on the brakes” later.
In China, however, the central bank is tending towards further easing. In Great Britain, the Bank of England surprised with a first rate hike, while the European Central Bank (ECB) wants to compensate for the expiry of its Pepp pandemic program by temporarily increasing its second purchase program called App.
“While there seems to be agreement among central banks around the world when it comes to easing, there is a big gap in the way in which all those involved imagine the end of the expansive monetary policy,” summarized CMC Markets expert Stanzl. For the stock market, this patchwork of monetary policy is unsettling and therefore “not exactly confidence-building” ./ ck / men
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