A recent market rally has started to peter out as traders assess the outlook for US monetary policy, with a string of above-forecast inflation and economic data leading some to question whether the central bank can stick to its projection of three cuts this year.Atlanta president Raphael Bostic on Monday reiterated his comments from Friday that he saw only one cut this year, adding that acting too quickly could be disruptive, while governor Lisa Cook said decision-makers should be cautious.
"Shorter-term inflation measures are now telling me that progress has slowed and may have stalled. But we will need more data to know that," he added. Asia, however, was mixed, with Hong Kong, Shanghai, Sydney and Wellington rising, while Singapore, Seoul, Taipei and Jakarta fell.
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