Asia-Pacific markets were set to open higher on Thursday, following the Federal Reserve’s third rate cut of the year.
The U.S central bank cut the Federal Funds rate by 25 basis points to 3.5%-3.75%, and signalled that it was probably done cutting for now.
Fed Chair Jerome Powell, at his post-meeting news conference, said the reduction puts the Fed in a comfortable position as far as rates go.
“We are well-positioned to wait and see how the economy evolves,” Powell said, and noted President Donald Trump’s tariffs have been a driver of inflation.
Australia’s S&P/ASX 200
