Tech-heavy Taiwan stocks fell 1.2% and Australian shares slid nearly 2%
SINGAPORE – Asian stocks slipped and the dollar was perched near a two-year high on Thursday after the US Federal Reserve cautioned it would temper the pace of rate cuts next year, while the yen dipped after the Bank of Japan kept rates steady.
The Japanese currency traded around 155.3 to the dollar, near the weaker end of the range it has held this year while under pressure from a strong dollar and a wide interest rate disadvantage. Ueda is expected to hold a press conference at 0630 GMT to explain the decision. Board member Naoki Tamura dissented and proposed raising interest rates to 0.5% on the view inflationary risks were building, but his proposal was voted down.
Fed Chair Jerome Powell said some officials were contemplating the impact of Trump's plans such as higher tariffs and lower taxes on their policies, while Ueda highlighted Trump's policies as a risk in an interview last month. US central bankers now project they will make just two quarter-percentage-point rate reductions by the end of 2025, which is half a percentage point less in easing next year than officials anticipated as of September.
The shifting expectation of Fed rate cuts lifted the dollar index , which measures the U.S. currency against six rivals, to its highest since November 2022 on Wednesday. It was last at 108.08 on Thursday.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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