US Fed ‘less hawkish’ than expected; Singapore banks, net cash companies likely to outperform
The pace of policy tightening will likely remain dependent on US inflation rates in the coming months
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GLOBAL financial markets may be heaving a sigh of relief for now as analysts believe that the US Federal Reserve has shown some restraint and appeared to be less hawkish than expected.
In a widely expected move, the US Federal Reserve held interest rates steady overnight on Wednesday (May 1).
IG market analyst Yeap Jun Rong noted that the Fed appears to have shown a higher threshold for additional rate hikes despite the recent run in persistent inflation. Fed chair Jerome Powell said that further rate hikes remain “unlikely”.
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