MARKET OPEN: Choppy offshore leads may keep investors sidelined

Thu, 11 Jun 2020

Investors may be subdued after the US Federal Reserve said the covid-19 crisis will weigh heavily on economic activity, employment and inflation in the near term. The Fed, in its first economic forecasts since December, said it expects the US economy to contract 6.5 percent and unemployment to hit 9.3 percent by the end of the year. Not only that, but the ongoing health crisis “poses considerable risks to the economic outlook over the medium term,” it said. The unemployment rate is projected to be 6.5 percent in 2021 and 5.5 percent in...

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