Asian shares advanced and the dollar fell on Thursday after a well-flagged U.S. rate rise delivered no major surprises, although policymakers in Europe and Japan could pose risks for markets with their own interest rate decisions. | Reuters
On Wednesday, the U.S. Federal Reserve delivered a quarter-point rate hike and kept the door open for more, as widely expected.
“Chair Powell post the FOMC outcome started off sticking to script, but slowly morphed to an acknowledgement that inflation has indeed fallen, the real rate had risen and was indeed in a restrictive state,” said Padhraic Garvey, regional head of research, Americas, at ING. “Next up is the ECB’s Lagarde, who is more prone to deviate. The 25bp hike is not the point. The tone is.”
Another major risk event this week is the Bank of Japan meeting on Friday amid speculation of more tweaks to its ultra loose monetary policy. The majority view is policymakers would hold steady, according to a Reuters poll.After the Fed decision, markets continued to bet that the tightening is done, with futures implying a slim chance – about 20 percent – that the central bank could surprise with a quarter-point increase in September.
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