Asia-Pacific markets rise as Fed holds rates and shifts dot plot

The Fed only projects one rate cut this year, down from three, but raises the number of total projected rate cuts to 4 in 2025.The sails of the Opera House are illuminated with projections on the opening night of Vivid Sydney 2023 in Sydney, Australia, on Friday, May 26, 2023.Asia-Pacific markets rose on Thursday after the U.S. Federal Reserve held the Federal Funds rate at 5.25% to 5.5%, and shifted itsThis was down from the three cuts projected in its March meeting.

said "inflation has eased over the past year but remains elevated," echoing language from the last statement. However, the new statement also said, "In recent months, there has been modest further progress toward the Committee's 2 percent inflation objective."Separately, inflation in May remained unchanged from April, rising 3.3% year-on-year and remaining flat on aa month-on-month basis.

Overnight in the U.S., all three major indexes rose in response to the Fed's decision and May inflation reading.The broader market index climbed 0.85%, closing at 5,421.03, while the

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asia-Pacific markets set to climb as Fed holds rates and shifts dot plotThe Fed only projects one rate cut this year, down from three, but raises the number of total projected rate cuts to 4 in 2025.
Source: CNBC - 🏆 12. / 72 Read more »

Asia-Pacific markets set to climb as Fed holds rates and shifts dot plotThe Fed only projects one rate cut this year, down from three, but raises the number of total projected rate cuts to 4 in 2025.
Source: nbcsandiego - 🏆 524. / 51 Read more »

Asia-Pacific markets mixed as China's May inflation rises for the 4th straight monthChina’s May inflation rate is expected to inch up to 0.4%, compared to April’s increase of 0.3%.
Source: NBCLA - 🏆 319. / 59 Read more »

Asia-Pacific markets mixed as China's May inflation misses expectationsChina’s May inflation rate is expected to inch up to 0.4%, compared to April’s growth rate of 0.3%.
Source: nbcchicago - 🏆 545. / 51 Read more »