US Fed ‘less hawkish’ than expected; Singapore banks, net cash companies likely to outperform
The pace of policy tightening will likely remain dependent on US inflation rates in the coming months
GLOBAL financial markets may be heaving a sigh of relief for now as analysts believe that the US Federal Reserve has shown some restraint and appeared to be less hawkish than expected.
In a widely expected move, the US Federal Reserve held interest rates steady overnight on Wednesday (May 1).
IG market analyst Yeap Jun Rong noted that the Fed appears to have shown a higher threshold for additional rate hikes despite the recent run in persistent inflation. Fed chair Jerome Powell said that further rate hikes remain “unlikely”.
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