A man walks past a panel displaying figures of China stock indexes and Hang Seng Index at the financial Central district in Hong Kong, September 2, 2015. - Reuters picHONG KONG, May 16 — Asian equities rallied today after US data showed inflation cooled last month, fuelling speculation that the Federal Reserve will cut interest rates twice this year.
“We see the April print as consistent with a direction of travel for inflation dynamics that — in the context of moderation in the real economy — can yield a September cut followed by a second in December,” Evercore’s Krishna Guha said.“The news on core inflation was better than expected. Retail sales also showed some deceleration from the previously hot consumer sector. Taken together, this supports a Fed rate cut in the fall.
His remarks came a day after Fed chief Jerome Powell said the battle against prices was proving tougher than expected and indicated rates could remain elevated for some time. Tokyo advanced even after data showed Japan’s economy shrank more than expected in the first three months of the year.
Source: Financial Digest (financialdigest.net)
Asian Stocks
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