Federal Reserve officials on Wednesday said more interest rate rises are in the cards as the U.S. central bank presses forward with its efforts to cool inflation although none were ready to suggest that January's hot jobs report could push them back to a more aggressive monetary policy stance.
China’s central bank may have more room to cut interest rates in the second quarter as the risk of another Covid wave looms in coming months and the US Federal Reserve ends its interest rate hikes, according to a prominent Chinese economist.
The U.S. dollar hovered near the middle of recent ranges versus major peers on Thursday as investors digested comments from a slew of Federal Reserve officials, while crucial consumer inflation data loomed next week.
Oil prices were broadly steady on Thursday as the prospect of higher fuel demand in China as it reopens post-COVID curbs was offset by fears that U.S. crude stocks hitting their highest for months may signal weakening demand in the world's no. 1 economy.
Most Asian stock markets fell on Thursday following a string of hawkish comments from Federal Reserve officials, while Chinese stocks outperformed their peers amid persistent bets that the world’s second-largest economy will recover this year.
Toyota Motor Corp on Thursday posted a surprise 22% rise in third-quarter operating profit, as a weaker yen and higher sales volumes helped the Japanese automaker overcome a jolt from soaring raw-materials costs.