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☆ Asia markets mixed ahead of Australia's inflation figures
▼ + stars: | 2023-10-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

An aerial view of the central business district and Sydney Opera House on February 17, 2023. David Gray | Getty Images News | Getty ImagesAsia-Pacific markets are mixed as investors prepare for Australia's third-quarter inflation figures, which will give clues to the Reserve Bank of Australia's monetary policy decision when it meets on Nov. 3. Economists polled by Reuters expect the headline inflation rate to come in at 5.3%, lower than the 6% seen in the second quarter. In Australia, the S&P/ASX 200 extended gains from Tuesday, climbing 0.32% in the morning session. Futures for Hong Kong's Hang Seng index stood at 17,480, pointing to a rebound after the HSI ended at its lowest level since Nov. 10.

Persons: David Gray, Kospi, HSI Organizations: Sydney Opera House, Getty, Reserve Bank, Reuters, Nikkei Locations: Asia, Pacific, Australia

REUTERS/Issei Kato/File photo Acquire Licensing RightsOct 26 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian markets on Thursday are set to open on the defensive, with sentiment battered by one of the biggest selloffs of the year in U.S. tech stocks and a renewed spike in longer-dated U.S. Treasury bond yields the day before. The fog of uncertainty descended further over China's embattled property sector after it was reported on Wednesday that China's largest private lender Country Garden has defaulted on a U.S. dollar bond for the first time. But the broader tone in Asia on Thursday will be set by another decline in U.S. stocks and bonds. The global market moves represented a familiar pattern since the flare-up in Middle East violence nearly three weeks ago - higher bond yields, a 'bear steepening' of the U.S. yield curve, a stronger dollar, and higher oil and gold prices.

Persons: Issei Kato, Jamie McGeever, Michele Bullock's, Bullock, Josie Kao Organizations: U.S, REUTERS, Treasury, Reserve Bank of Australia, Central Bank, Thomson, Reuters Locations: Tokyo, Japan, Singapore, Asia, East, Korean, Korea

☆ Dollar bounces, euro heavy on U.S./euro zone growth outlook divergence
▼ + stars: | 2023-10-25 | by ( ) www.cnbc.com time to read: +3 min

The dollar was on the front foot on Wednesday, drawing support from yet another resilient U.S. economic data reading, while the euro struggled to make headway on the back of a darkening growth outlook in the bloc. Against the dollar, the euro was last 0.05% higher at $1.0595, having declined 0.75% on Tuesday. The euro is the most heavily weighted currency in the dollar index, which measures the greenback against a basket of six peers. "By contrast, the U.S. Federal Reserve could continue to raise interest rates just because the economic data looks strong." Pressure is mounting on the Bank of Japan to change its bond yield control as global interest rates rise.

Persons: Tina Teng, Matt Simpson, Bitcoin, John Glover Organizations: Wednesday, European Central Bank, CMC Markets, U.S . Federal Reserve, Bank of Japan, New Zealand, Reserve Bank of Australia's Locations: Bogota, Australia, Wednesday .

☆ Dollar bounces, euro heavy on US/euro zone growth outlook divergence
▼ + stars: | 2023-10-25 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. Against the dollar, the euro was last 0.05% higher at $1.0595, having declined 0.75% on Tuesday. The euro is the most heavily weighted currency in the dollar index, which measures the greenback against a basket of six peers. "By contrast, the U.S. Federal Reserve could continue to raise interest rates just because the economic data looks strong." Pressure is mounting on the Bank of Japan to change its bond yield control as global interest rates rise.

Persons: Dado Ruvic, Tina Teng, Matt Simpson, Bitcoin, John Glover, Rae Wee, Lincoln Organizations: REUTERS, Rights, Wednesday, European Central Bank, CMC Markets, U.S . Federal Reserve, Bank of Japan, New Zealand, Reserve Bank of Australia's, Thomson Locations: Rights SINGAPORE, Australia, Wednesday .

Oct 25 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Upbeat U.S. economic data often fuels Fed rate hike expectations, dragging stocks and other asset markets lower. In Asia on Wednesday, South Korea's LG Display is expected to show a fall in quarterly revenue when it reports results. On the economic data front, annual consumer inflation in Australia is expected to slow to 5.3% in the third quarter from 6.0% in the April-June period. The Australian dollar liked what it heard, bucked the global trend of widespread weakness against the U.S. dollar, and goes into the inflation data on the front foot around $0.6360.

Persons: Jamie McGeever, Michele Bullock, Lan Foan, Xi Jinping, Josie Kao Organizations: Microsoft, Google, South, LG, Apple, Reserve Bank of Australia, U.S ., South Korea LG, Thomson, Reuters Locations: U.S, Asia, Australia, China, Beijing, South Korea

REUTERS/Issei Kato Acquire Licensing RightsOct 24 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. September's PMIs showed that manufacturing activity in Japan and Australia shrank and services sector activity grew, although growth in Japan was the slowest this year. The big picture, however, is still dominated by the ebb and flow of the U.S. Treasuries market. And while a broad easing of financial conditions on Monday - lower Treasury yields and a weaker dollar - should support emerging market assets, Wall Street's late downward drift will warrant caution. The MSCI Asia ex-Japan and MSCI global emerging market indexes are both down around 13% over the past three months and on Monday both hit their lowest level since Nov. 11 last year.

Persons: Issei Kato, Jamie McGeever, bode, Michele Bullock, September's PMIs, Wall, Goldman Sachs, outflows, Goldman, Josie Kao Organizations: REUTERS, Reserve Bank of Australia, Nasdaq, Bank of Japan, PMI, Thomson, Reuters Locations: Tokyo, Japan, U.S, Korean, Australia, Asia, China, South Korea

☆ Australia central bank sees challenging economy, inflation risks
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: 1 min

SYDNEY, Oct 18 (Reuters) - The head of Australia's central bank on Wednesday said the domestic economy was in a "challenging" situation with consumption slowing but inflation still elevated, and monetary policy was on a narrow path to balance these forces. Reserve Bank of Australia (RBA) Governor Michele Bullock said there were signs that inflation might be difficult to suppress, particularly in services where it was proving to be sticky. She warned that the central bank was very alert to upside risks on inflation and, were it to remain higher than expected, the bank would have to respond with tighter monetary policy. Reporting by Wayne Cole; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Michele Bullock, Wayne Cole, Christian Schmollinger Organizations: SYDNEY, Reserve Bank of Australia, Thomson

☆ Asia markets little changed ahead of key China data
▼ + stars: | 2023-10-18 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Vcg | Visual China Group | Getty ImagesAsia-Pacific markets were little changed in early Wednesday trading as investors look to key economic data from China. China will release its third-quarter gross domestic product data. The world's second-largest economy will also release its industrial output and retail sales data for September, as well as its urban unemployment rate. The unemployment rate is one of the key metrics that the Reserve Bank of Australia considers when setting its monetary policy. Japan's markets are trading close to the flatline, with the Nikkei 225 down just 0.1% and the Topix gaining marginally.

Persons: Kospi Organizations: Visual China, Getty, Reserve Bank of Australia, Nikkei Locations: Beijing, China, Asia, Pacific, Australia

☆ Dollar mixed vs major peers; pounds slips, yen briefly jumps
▼ + stars: | 2023-10-17 | by ( Samuel Indyk | ) www.reuters.com time to read: +4 min

"Central banks are not trying to hit the CPI targets in the near term," said Colin Asher, senior economist at Mizuho. The dollar index , which measures the U.S. currency against six peers, fell 0.1% to 106.13, after dropping 0.4% on Monday. Fed officials will enter into a blackout period on Oct. 21 before the central bank's Oct. 31–Nov. Federal Reserve Bank of Philadelphia President Patrick Harker said on Monday the central bank should not create new pressure on the economy by increasing the cost of borrowing. Australia's central bank considered raising rates at its recent policy meeting but judged there was not enough new information to warrant a move, minutes of the Reserve Bank of Australia's Oct. 3 policy meeting showed.

Persons: Dado Ruvic, Colin Asher, Asher, Masato Kanda, Valentin Marinov, Marinov, Jerome Powell, Patrick Harker, Sterling, Samuel Indyk, Ankur Banerjee, Shri Navaratnam, Kim Coghill, Gareth Jones Organizations: REUTERS, U.S, Bank of Japan, Mizuho, CPI, Swiss, CIB, Federal, Federal Reserve Bank of Philadelphia, Bank of England, New Zealand, Reserve Bank of Australia's, Thomson Locations: Australia's, London, Singapore

☆ Dollar drifts as investors eye Powell speech, yen wobbles near intervention zone
▼ + stars: | 2023-10-17 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

The yen was pinned close to the key 150 per dollar level, keeping traders on edge for any signs of intervention by the Japanese authorities. The yen last fetched 149.62 per dollar, having slipped to 150.17 on Oct. 3, the weakest in a year, before getting some relief in a brief rally. The dollar index , which measures the U.S. currency against six rivals, eased 0.038% to 106.20, after dropping 0.36% on Monday. Federal Reserve Bank of Philadelphia President Patrick Harker said on Monday the central bank should not create new pressures in the economy by increasing the cost of borrowing. Christopher Wong, currency strategist at OCBC, said the dollar is likely caught in a range for now.

Persons: Dado Ruvic, Powell, Masato Kanda, Israel's shekel, Charu, Jerome Powell, Patrick Harker, Harker, Christopher Wong, Wong, Ankur Banerjee, Shri Navaratnam Organizations: REUTERS, Rights, U.S ., Swiss, Palestinian, Hamas, Saxo, Federal Reserve Bank of Philadelphia, Reserve Bank of Australia's, News Zealand, Thomson Locations: Rights SINGAPORE, East, Singapore, Australia's

☆ Morning Bid: Equity bounce ebbs with eyes on Middle East
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +2 min

Israeli soldiers stand near to a tank near Israel's border with Lebanon in northern Israel, October 16, 2023. U.S. and European equity futures were flat, while MSCI's broadest index of Asia-Pacific stocks outside Japan (.MIAPJ0000PUS) rose 0.7%. British wages data, U.S. retail sales figures and corporate earnings are the calendar items in focus. In China, where gross domestic product data is due on Wednesday, Country Garden (2007.HK) was on the brink of a possible offshore default. Reuters reported China's civil servants and state-enterprise employees face tighter travel constraints, as Beijing wages a campaign against foreign influence.

Persons: Lisi Niesner, Tom Westbrook, Vladimir Putin, Joe Biden, Goldman Sachs, Johnson, Edmund Klamann Organizations: REUTERS, U.S, Israel, Investors, Tel, HK, Reuters, Bank of Australia, Bank of America, Thomson Locations: Lebanon, Israel, Tom, Tom Westbrook Asia, Asia, Pacific, Japan, Russian, Beijing, China, Iran, Tel Aviv, Australia, New Zealand

☆ Australia stocks rise ahead of central bank minutes; New Zealand inflation hits 2-year low
▼ + stars: | 2023-10-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Australia stocks gained ahead of minutes from its central bank's last policy meeting, while the New Zealand dollar weakened following an inflation reading, the first since the elections over the weekend. New Zealand's inflation rate hit a two-year low, coming in at 5.6% in the third quarter and down from 6% in the previous quarter. The minutes from the Reserve Bank of Australia will detail the central bank's rationale for holding its benchmark lending rates at 4.1% during its October monetary policy meeting, the fourth straight month that it has kept rates unchanged.

Organizations: New Zealand, Reserve Bank of Australia

☆ Australia's central bank considered raising rates in October, RBA minutes show
▼ + stars: | 2023-10-17 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Reserve Bank of Australia (RBA) at the central bank's building in Sydney, Australia on May 2, 2022. Australia's central bank considered a rate hike of 25 basis points at its monetary policy meeting on Oct. 3, but eventually opted to hold its benchmark lending rate at 4.1%. In minutes released by the Reserve Bank of Australia, board members noted that inflation remained well above its target of 2% to 3%, and was "expected to do so for some time." "The tightening of monetary policy since May 2022 was still permeating through the economy and it would take some time for the full effects of this to be observed in the data," the minutes showed. In light of both sides of the argument, the RBA concluded there was not enough new information from financial markets or economic data to adjust its monetary policy in October.

Organizations: Bank of Australia, Reserve Bank of Australia Locations: Sydney, Australia, Australia's

REUTERS/Issei Kato/File photo Acquire Licensing RightsOct 17 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Could stocks - and global risk appetite, by extension - be gaining a momentum of their own regardless of what the bond market does? Wall Street's main indexes and the benchmark MSCI indexes for world, Asian and emerging stocks are all higher since the Oct. 7 Hamas attack on Israel. That said, investors in Asia should keep a close eye on the dollar, which is still trading up near 150.00 yen and over 7.30 yuan. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Issei Kato, Jamie McGeever, Wall, Fed's Williams, Bowman, Putin, Xi, Josie Kao Organizations: REUTERS, Reserve Bank of, U.S ., ICE, U.S, Treasury, Thomson, Reuters Locations: Tokyo, Japan, Asia, Israel, Australia, Beijing

☆ Australia central bank sees possible cost savings in tokenisation
▼ + stars: | 2023-10-15 | by ( ) www.reuters.com time to read: +2 min

A worker is reflected in a wall of the Reserve Bank of Australia (RBA) head office in central Sydney, Australia, March 1, 2016. REUTERS/David Gray/File Photo Acquire Licensing RightsSYDNEY, Oct 16 (Reuters) - Australia's central bank on Monday said tokenised money could help save billions of dollars in costs in domestic financial markets, as it studies whether and how to launch a central bank digital currency. Australia's government on Monday separately outlined proposals for regulating crypto and digital assets that will make platforms subject to existing Australian financial services laws and require platform operators to obtain an Australian Financial Services Licence. The RBA has been studying whether to issue a central bank digital currency (CBDC) of its own and if it would help facilitate atomic settlement in tokenised asset markets. A wholesale CBDC could also act as a complement to new forms of privately issued digital money, including tokenised bank deposits and asset-backed stablecoins.

Persons: David Gray, Brad Jones, Jones, tokenisation, " Jones, Wayne Cole, Jamie Freed Organizations: Reserve Bank of Australia, REUTERS, Rights, Australian Financial, Treasury, Thomson Locations: Sydney, Australia

☆ Australia unveils draft law to regulate digital payment providers
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

[1/2] A smartphone with Apple Pay and Google Pay logos is placed on a laptop in this illustration taken on July 14, 2021. Apple Pay, Google Pay and China's WeChat Pay, which have grown rapidly in recent years, are not currently designated as payment systems, putting them outside Australia's financial regulatory system. The proposed rules would enable the Reserve Bank of Australia (RBA) to monitor digital wallet payments in the same way as credit card networks and other transactions. The draft law would expand the definitions of "payment system" and "participant" in Australia's existing laws, treasury documents showed. Payments infrastructure and the regulatory framework have not kept pace with transitions in finance, particularly in Australia's digital economy and payments.

Persons: Dado Ruvic, Jim Chalmers, Renju Jose, Stephen Coates Organizations: Apple, REUTERS, Rights, Google, Reserve Bank of Australia, Australian Banking Association, Thomson Locations: Sydney

☆ Australia's central bank sees risks mounting in global markets, China property
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +3 min

Two women walk next to the Reserve Bank of Australia headquarters in central Sydney, Australia February 6, 2018. In an effort to curb surging inflation, the central bank has lifted interest rates to a decade-high of 4.1%, causing widespread financial stress among households where debt levels are at record peaks. "A small, but rising share of borrowers are on the cusp, or in the early stages, of financial stress," the review stated. "A tightening in global financial conditions could transmit to Australia via linkages in funding markets and risk aversion," the review said. Another area of concern was China's property sector where financial stress was proving a drag on the world's second largest economy and Australia's single biggest export market.

Persons: Daniel Munoz, Michele Bullock, Wayne Cole Organizations: Reserve Bank of Australia, REUTERS, Rights, Financial, Thomson Locations: Sydney, Australia, China, U.S, United States, AUSTRALIA

☆ Dollar pauses rally as markets brace for U.S. nonfarm payrolls test
▼ + stars: | 2023-10-06 | by ( ) www.cnbc.com time to read: +3 min

The dollar dipped on Friday but traders were largely keeping to the sidelines in both the currency and U.S. Treasury markets as they looked to U.S. nonfarm payrolls data later in the day for potential catalysts. The dollar index , which earlier in the week hit a roughly 11-month high of 107.34, last settled at 106.37, but remained on track for 12 straight weeks of gains. The benchmark 10-year Treasury yield last stood at 4.7269%, while the two-year yield settled at 5.0267%. The pause in the dollar's rally has also provided a much-needed reprieve for the yen , which last bought 148.48 per dollar. Sterling edged 0.03% lower to $1.2188 and was likewise headed for five straight weeks of losses, struggling against a dominant dollar.

Persons: Rodrigo Catril, We've, Vishnu Varathan, Thierry Wizman Organizations: . Treasury, greenback, U.S, Treasury, National Australia Bank, Bank of Japan, Ministry of Finance, Mizuho Bank ., Sterling, European Central Bank, Bank of England, Reserve Bank of Australia, New Zealand, Reserve Bank of New Locations: U.S, Reserve Bank of New Zealand

☆ Dollar pauses rally as markets brace for US nonfarm payrolls test
▼ + stars: | 2023-10-06 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. The dollar index , which earlier in the week hit a roughly 11-month high of 107.34, last settled at 106.37, but remained on track for 12 straight weeks of gains. The benchmark 10-year Treasury yield last stood at 4.7269%, while the two-year yield settled at 5.0267%. The pause in the dollar's rally has also provided a much-needed reprieve for the yen , which last bought 148.48 per dollar. Sterling edged 0.03% lower to $1.2188 and was likewise headed for five straight weeks of losses, struggling against a dominant dollar.

Persons: Rick Wilking, Rodrigo Catril, We've, Vishnu Varathan, Thierry Wizman, Rae Wee, Shri Navaratnam Organizations: REUTERS, Rights, . Treasury, greenback, U.S, Treasury, National Australia Bank, Bank of Japan, Ministry of Finance, Mizuho Bank ., Sterling, European Central Bank, Bank of England, Reserve Bank of Australia, New Zealand, Reserve Bank of New, Thomson Locations: Westminster , Colorado, Rights SINGAPORE, U.S, Reserve Bank of New Zealand

[1/2] Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The dollar fell as low as 147.30 yen versus the Japanese currency, after hitting a one-year high of 150.165. Tuesday's low in the dollar was its weakest level in three weeks versus the Japanese currency. The euro dropped to a roughly two-month low against the yen of 154.39 yen and was last down 0.7% to 155.99. That earlier drove the dollar higher as real interest rates factor in inflation.

Persons: Florence Lo, Shunichi Suzuki, Colin Asher, Sterling, Marc Chandler, Jeremy Stretch, JGB, Herbert Lash, Gertrude Chavez, Dreyfuss, Lucy Raitano, Joice Alves, Marguerita Choy, Sharon Singleton Organizations: U.S, REUTERS, Japan, Japanese Finance, New York Federal Reserve, Mizuho, Bannockburn Global, U.S . Labor, Labor, Survey, CIBC Capital Markets, UST, Federal Reserve, Reserve Bank of Australia's, Swiss, Thomson Locations: Japan, London, Bannockburn, New York

☆ Australia central bank holds rates at 4.1% for fourth month
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: 1 min

SYDNEY, Oct 3 (Reuters) - Australia's central bank held interest rates steady on Tuesday for a fourth month, but again warned that further tightening might be needed to bring inflation to heel in a reasonable timeframe. Wrapping up its October policy meeting, the Reserve Bank of Australia (RBA) held rates at 4.10% and said recent data were consistent with inflation returning to its 2–3 percent target over time with output and employment still growing. Markets had wagered heavily on a steady outcome this month, though there is still some chance of a hike in November depending on how inflation progresses over the third quarter. Reporting by Wayne Cole; Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Wayne Cole, Shri Navaratnam Organizations: SYDNEY, Reserve Bank of Australia, Thomson

☆ Dollar hits new high on upbeat data, yen teeters near intervention line
▼ + stars: | 2023-10-03 | by ( Brigid Riley | ) www.reuters.com time to read: +3 min

The euro also traded near a one-year low against the greenback, dropping below January's 1.0482 nadir, as manufacturing surveys released in both Europe and the U.S. on Monday highlighted the divergence between the two economies. The dollar index rose around 0.5% to 107.06, at one point hitting as high as 107.12, its highest since November 2022. Japan's key economic ministers warned again on Monday that authorities were watching with a "strong sense of urgency" as the yen slid. The yen was last at 149.80 against the dollar, just off the overnight low of 149.88. (This story has been corrected to fix euro milestone to near one-year low, not over one-year low, in paragraph 2)Reporting by Brigid Riley Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Carol Kong, Kong, Sterling, Brigid Riley, Shri Navaratnam Organizations: REUTERS, Rights, Federal Reserve, Treasury, Commonwealth Bank of Australia, PMI, Reserve Bank of Australia, Thomson Locations: Europe

☆ Asian stocks slip on rate worries, yen in focus
▼ + stars: | 2023-10-03 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

U.S. Federal Reserve officials said that monetary policy will need to stay restrictive for "some time" to bring inflation back down to the Fed's 2% target. Still, the hawkish rhetoric from the Fed officials comes as an ongoing debate over another possible rate hike this year rages on. "If it were down to us, we would wait for another month of rising inflation and the third-quarter inflation numbers. The yen was last at 149.83 per U.S. dollar in Asian hours, having scaled a fresh near 12-month low of 149.895 earlier in the session. The dollar index , which measures the U.S currency against six major rivals, rose 0.093% to scale a fresh 10-month peak.

Persons: Hong, Michelle Bowman, Rob Carnell, Shunichi Suzuki, Brent, Ankur Banerjee, Jamie Freed Organizations: Federal Reserve, Japan's Nikkei, . Federal, Fed, Reserve Bank of, Reuters, ING, Japanese Finance, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, Reserve Bank of Australia

☆ Asia-Pacific stocks fall ahead of Australian central bank rate decision
▼ + stars: | 2023-10-03 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

The full moon, otherwise known as a strawberry supermoon, is seen over the Skyline of the CBD in Sydney, Australia June 15, 2022. Asia-Pacific markets fell ahead of a rate decision by the Reserve Bank of Australia. In Australia, the S&P/ASX 200 was trading down 1.1% ahead of an RBA meeting, where the central bank is expected to hold rates at 4.10%, according to a Reuters poll. In Japan, the Nikkei 225 was down 0.63% in its first hour of trade. The Nasdaq Composite added 0.67% to close at 13,307.77— CNBC's Hakyung Kim and Alex Harring contributed to this report.

Persons: Hakyung Kim, Alex Harring Organizations: Skyline, Reserve Bank of Australia, Nikkei, Dow Jones, Nasdaq Locations: Sydney, Australia, Asia, Pacific, Japan, U.S

☆ Morning Bid: This Fed's not for turning
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +5 min

The U.S. Federal Reserve building is pictured in Washington, March 18, 2008. That thought was echoed by Cleveland Fed chief Loretta Mester, who said: "I suspect we may well need to raise the fed funds rate once more this year." Either way, this is not the sound of a Fed who thinks the inflation battle is won. Fed hawkishness, however, has kept futures markets pricing a 50-50 chance of another quarter point rate hike to the 5.50-5.75% range by year-end. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jason Reed, Mike Dolan, they've, Michelle Bowman, Loretta Mester, Michael Barr, hawkishness, Raphael Bostic, Susan Fenton Organizations: U.S . Federal, REUTERS, Reserve, Cleveland Fed, Institute, Supply, Bank of Japan, Reserve Bank of Australia, Big Tech, Atlanta Federal Reserve, Treasury, McCormick, PMI, Reuters, Thomson Locations: Washington, U.S

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