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Officials in some countries started cutting rates last year, but others, including those in Europe and the United States, have taken a more cautious approach.
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Asset prices soared as investors took Powell at his word that the outsized rate cut wasn't in response to a substantial economic weakening.
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The decline in mortgage costs, influenced by expectations of the Federal Reserve's rate moves, could revive interest in buying, selling and remortgaging, economists said.
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European markets closed higher Thursday as investors digested the latest monetary policy decisions from the U.S. Federal Reserve and the Bank of England.
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The decision to hold comes after the U.S. Federal Reserve kicked off its own monetary easing with an aggressive 50 basis point rate cut.
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Prominent Republicans have questioned the timing and size of the Fed rate cut ahead of the November presidential election.
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Investors in Asia will parse Fed's decision, New Zealand GDP figures, August trade data from Malaysia, unemployment rate from Australia.
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