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English translation
Hi Everyone, I m Eric Oh, Financial Services Manager from Phillip Securities.
On Wednesday, we see regional stocks rally after the FED signal it will maintain its stance of 3 interest rate cut this year which is aligned with market expectations.
Powell said the timing of those reductions still depends on officials becoming more secure that inflation will continue to decline towards the Fed's 2% target even as the economy continues to outperform expectations.
The Fed also left interest rates unchanged and released new quarterly economic projections that showed officials now expect the economy to grow 2.1% this year, above what's considered the U.S. economy's long-run potential and a substantial upgrade from the 1.4% growth seen as of December.
Concurrently, the unemployment rate is only expected to hit 4% by the end of 2024, barely changed from the current 3.9% level.
Another important news this week is when Japan's central bank has raised the cost of borrowing for the first time in 17 years. The Bank of the Japan (BOJ) increased its key interest rate from -0.1% to a range of 0%-0.1%.
Risk asset may continue to see upside potential but may not be suitable for speculation in the short term as volatility may increase due to sudden, unexpected geopolitics, conflicts or negative news.
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