SYDNEY - Asian share markets rose on Monday as investors looked forward to a rate cut in Europe, and quite possibly Canada, as the next step in global policy easing, though sticky inflation threatens to make the process a drawn out affair.
Markets also imply around an 80% chance the Bank of Canada will cut at its meeting on Wednesday and 59 basis points of easing this year, though analysts are hopeful the easing will be even deeper. Indian markets are waiting to see if Prime Minister Narendra Modi will expand his alliance's majority in parliament when election results are released on Tuesday, amid speculation this would lead to more economic reforms.
Gold was steady at $2,326 an ounce, having now rallied for four months in a row helped in part by buying from central banks and China.