Japan's Nikkei .N225
jumped to a near two-year high on Tuesday and European stock markets
built on their biggest one-day gain in two months as central bankers
gave a tempered message about growth and the chances of rises in
interest rates.
Bank
of England Governor Mark Carney, fresh from a meeting which saw three
colleagues on the bank's policy committee vote for higher rates, knocked
half a percent off Britain's pound by saying "now was not the time" to
adjust borrowing costs.
Similarly, in a speech late in U.S. time on Monday, Chicago Federal Reserve President Charles Evans said it may be worthwhile for the U.S. central bank to wait until year-end to decide whether to raise rates again.
After jitters on hi-tech stocks this month, that leaves markets confident that major central banks will not be tightening the flow of cash which has kept markets rising for eight years, at a time when growth globally looks solid.
The Nikkei .N225 closed 0.8 percent higher on the day, having earlier gained more than 1 percent.
European markets gained between a quarter and half a percent in early trading .GDAXI .FCHI .FTSE FTEU3.
The technology sector which has led U.S. stock market gains this year, fell for a second week last week .SPLRCT but they saw a strong rebound on Monday that helped push Wall Street indexes .SPX .DJI to record highs.
The votes for higher rates at the Bank of England's meeting last week propped up the pound after an almost 3 cent fall on the back of surprise election results two weeks ago.
But Carney, in a speech delayed from last week due to fire in London, played down the chances of any swift move at a time when the hard data on the UK economy has been worsening.
The pound hit a one-week low of $1.2671 after his comments on rates. GBP=D3
Similarly, in a speech late in U.S. time on Monday, Chicago Federal Reserve President Charles Evans said it may be worthwhile for the U.S. central bank to wait until year-end to decide whether to raise rates again.
After jitters on hi-tech stocks this month, that leaves markets confident that major central banks will not be tightening the flow of cash which has kept markets rising for eight years, at a time when growth globally looks solid.
The Nikkei .N225 closed 0.8 percent higher on the day, having earlier gained more than 1 percent.
European markets gained between a quarter and half a percent in early trading .GDAXI .FCHI .FTSE FTEU3.
The technology sector which has led U.S. stock market gains this year, fell for a second week last week .SPLRCT but they saw a strong rebound on Monday that helped push Wall Street indexes .SPX .DJI to record highs.
The votes for higher rates at the Bank of England's meeting last week propped up the pound after an almost 3 cent fall on the back of surprise election results two weeks ago.
But Carney, in a speech delayed from last week due to fire in London, played down the chances of any swift move at a time when the hard data on the UK economy has been worsening.
The pound hit a one-week low of $1.2671 after his comments on rates. GBP=D3
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