Stock Markets

stock markets: The announcement sent stock markets higher and long-term bond yields lower, which could translate into lower borrowing costs for consumers and businesses in Canada as well as the U.S, according to The Star. But the central bank also hedged its bets by saying its benchmark overnight interest rate would remain near zero well past the time unemployment dips below 6.5 per cent, especially if inflation remains below 2 per cent Investors cheered the U.S. Federal Reserves decision Wednesday to begin tapering its massive bond purchase program in January, taking it as a sign the worlds largest economy is finally on the mend. Citing falling employment and low inflation, U.S. Fed Chairman Ben Bernanke said the central bank would begin reducing its monthly bond purchases by $10 billion U.S. , lowering the total amount to $75 billion. (www.immigrantscanada.com). As reported in the news.