Weekly Market Review: 24th of March 2025

In the US, the Federal Reserve held the US interest rate at its current level of 4.50%, in a move widely telegraphed by markets. For the week, the S&P 500 closed -0.04% lower while the NASDAQ closed 0.12% higher. In Europe, the German Bundestag approved the plans put forward by incoming Chancellor Friedrich Merz to remove the country’s debt brake for defence spending and inject upwards of €1tn into military and infrastructure spending. For the week, the Eurostoxx50 and STOXX600 closed higher, up 0.62% and 0.49%, respectively. In the UK, the Bank of England held the UK interest rate at 4.50%, a move expected by markets. For the week, the FTSE 100 closed 0.06% higher. In Ireland, the National Treasury Management Agency (NTMA) completed an auction of €1bn of benchmark Irish Government Bonds. In Asia Pacific, the Bank of Japan also held its March policy meeting last week, with the bank opting to hold rates at their current level of 0.50%.