STI falls as central bank meetings in focus
Shares lose 18 points as caution reigns ahead of meetings of central bankers from US, UK, Japan, India and Brazil
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MOST Asian equities ended lower on Monday's close ahead of 'central bank week', with the local bourse also feeling the effects of investor caution ahead of a week of central bank meetings.
Central banks in the US, Japan, the UK, Brazil and India will all meet during the week. There is a possibility that the Bank of Japan will adjust its yield-curve control policy and cut its CPI forecasts, while the Bank of England is expected to hike even amid Brexit, according to Bloomberg. The Federal Reserve is seen to hold rates, as will Brazil's central bank.
The Reserve Bank of India's rate decision, meanwhile, is expected to be a close call, with DBS economist Radhika Rao seeing odds of a hike marginally higher than a pause.
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