The expectations surrounding the interest rate hike was crushed when the Federal Reserve announced its decision of keeping the interest rates unchanged, on Thursday. Unstable global economy, elevated market volatility and low inflation in the U.S. have driven the Fed’s decision, which led to mixed reactions in the market.
Major banks’ restructuring activities and third-quarter outlook dominated headlines in the last five trading days. Moreover, banks including Bank of America Corporation BAC and The Bank of New York Mellon Corporation (BK - Analyst Report) were in focus for getting electronically inclined as per clients’ preferences.
