‘No real surprise’ as US Fed funds rate stays unchanged; analysts remain bullish on Asian markets
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Yong Jun Yuan
ANALYSTS are staying bullish on Asian equities and bonds, as expectations of a “soft landing” for the United States economy rose after the Federal Reserve overnight on Wednesday (Jan 31) decided to leave interest rates unchanged for the fourth consecutive time.
JP Morgan Asset Management Asia-Pacific chief market strategist Tai Hui said that the Federal Open Market Committee’s (FOMC) decision to leave the funds rate at 5.25 to 5.5 per cent was “widely anticipated”, but also noted that the committee has adjusted its statement language.
“Given the underlying strength in the economy, and the ability for labour markets to seemingly shrug off higher interest rates, the Fed remains more focused on its inflation mandate than on the job market.
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