Copper Hits Fresh All-Time High After Fed Delivers Rate Cut
From beemarkets.com
Copper climbed to a fresh record high and most other industrial metals rose, after the Federal Reserve delivered a widely expected interest-rate cut and upgraded its growth forecast for the US economy. Copper advanced as much as 3% to $11,906 a ton in London, surpassing a peak struck on Monday. The US central bank lowered rates for a third straight meeting, but subtly changed the wording of its statement to hint at greater uncertainty around future reductions as it seeks to support growth while keeping inflation under control. The Fed now expects the US economy to grow by 2.3% next year, up from its previous ...
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