Morning Bid: Central bank bonanza, yen intervention watch

morning-bid:-central-bank-bonanza,-yen-intervention-watch
Morning Bid: Central bank bonanza, yen intervention watch

Asian markets will be closely watching global interest rates on Thursday. The Bank of England’s decision, along with monetary policy decisions in Indonesia, the Philippines, and Taiwan, will provide guidance for Asian markets. Investors will analyze the Federal Reserve’s policy decision, revised forecasts, and guidance from Wednesday. The central banks of Indonesia, the Philippines, and Taiwan are expected to keep key lending rates unchanged, so investors will look to policy statements for future direction. The surprise fall in UK inflation has put the Bank of England’s decision in a precarious position, leading to a pullback in rate hike expectations and a decline in global bond yields. However, the Fed’s upward revisions to rate forecasts have reversed market sentiment, with the dollar rebounding, U.S. Treasury yields spiking, the yield curve flattening, and stocks collapsing. U.S. crude oil also experienced its biggest fall in a month. The Fed’s revisions have significant consequences for Asian markets, particularly the rise of the dollar against the yen. The Bank of Japan’s upcoming meeting may signal the end of ultra-loose policy, and a further slide in the exchange rate could increase expectations for intervention. The Asia and Pacific economic calendar includes second quarter GDP data from New Zealand and Hong Kong inflation for August. Key developments on Thursday include the central bank meetings in Indonesia and the Philippines, as well as the Bank of England’s policy decision.

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Hi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

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