The news of note here during the session was of a regional nature. The Monetary Authority of Singapore, Singapore’s central bank, kept its monetary p
The
news of note here during the session was of a regional nature. The
Monetary Authority of Singapore, Singapore’s central bank, kept its
monetary policy settings unchanged after five straight tightening
moves since October 2021. The MAS cited rising global growth risks
and ebbing inflation pressure. Further tightening of policy was
widely expected (not unanimously though) and the Singapore dollar had
risen going into the decision. After the statement SGD was marked
lower.
We
had remarks reported from Bank of Japan Governor Ueda. He didn’t add
anything we didn’t already know:
- expects
Japanese inflation to drop back to under 2% in the second half of
this Japanese fiscal year (ie from around September-October) - said
he’ll thus maintain easy BOJ policy
Otherwise
news and data flow during the session was light. As mentioned in the
headline to this post the US dollar slid a little further.
Asian
equity markets:
-
Japan’s
Nikkei 225 +1% -
China’s
Shanghai Composite +0.07% -
Hong
Kong’s Hang Seng +0.17% -
South
Korea’s KOSPI +0.4% -
Australia’s
S&P/ASX 200 +0.3%
Bitcoin added to its gains:
Elsewhere in crypto ETH/USD hit an 11-month high.
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