Australian shares to edge higher on Wall Street’s modest post-Fed gains

Australian shares to edge higher on Wall Street’s modest post-Fed gains

Australian shares are set to open
slightly higher on Thursday, tracking modest Wall Street gains
after U.S. Federal Reserve Chair Jerome Powell allayed initial
market concerns about limits to future interest rate cuts.
The Fed on Wednesday signaled a higher bar to further rate
cuts after easing its benchmark overnight lending rate by a
quarter of a percentage point. Powell, in a press conference
later, promised future cuts “if the economy does turn down”.