The main indexes temporarily tumbled after Fed Chair Powell said interest rates could stay higher for longer.
A monthly report on consumer prices due Wednesday is unlikely to settle the debate around the timing of Federal Reserve interest-rate cuts, with forecasters expecting some moderation following elevated inflation readings at the start of the year.
The Fed is more likely to err on the side of caution given its past mistakes, says one chief economist.
Asian markets mirrored Wall Street's slide amid global interest rate concerns. The yen dipped below ¥153 against the dollar, reflecting market unease, while Chinese inflation edged up in March. Investors scaled back expectations for Federal Reserve rate cuts. The focus is on the European Central Bank's policy decision and US producer price data.
HONG KONG (AP) — Asia stocks were mostly higher on Tuesday, with investors mainly focusing on a U.S. inflation report and what it means for interest rate cuts by the Federal Reserve. Oil prices advanced while U.S. futures were mixed. The yen weakened, coming close to a 34-year low. Japan’s benchmark Nikkei 225 gained 0.8% []
Asian shares were mixed on Wednesday as the world’s most powerful central banker had a change of heart on US rate cuts this year, pushing Treasury yields to new five-month highs and the dollar towering against other currencies. The beleaguered yen is plumbing fresh 34-year lows on an almost daily basis. It was last steady […]
It may, perhaps, seem odd that the Bank of England’s decision on interest rates should be effectively made by the market. But that is the case over the coming ten weeks, through the May and June rate decision. To fail to meet market expectations would, now, represent the final nail in the credibility of Andrew []
Money markets have pushed back their expectations for the first interest rate cut by the Federal Reserve after shock US employment figures.]]>
Asian stocks fell and the dollar climbed to more than five-month highs on Tuesday as stronger-than-expected US retail sales for March further reinforced expectations that the Federal Reserve is unlikely to be in a rush to cut interest rates this year. Rising geopolitical tensions kept risk sentiment in check, lifting prices of gold and oil, […]
Federal Reserve Bank of New York President John Williams said the central bank will likely start lowering interest rates this year if inflation continues to gradually come down.
Investors are racing to buy British debt as traders ramp up bets that the Bank of England will start cutting interest rates before the US Federal Reserve. Official data showed the US rose by more than expected in March in a blow to US rate cut hopes.]]>
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed rate cuts until later this year, opening the door to a period of higher-for-longer interest rates. “Recent data have clearly not given us greater confidence” that inflation is coming under control” and instead indicate that it’s […]