bullish
Strong ASEAN Banks Poised Well to Face Uncertain Rate Outlook
229 Views23 Apr 2024 14:12
SUMMARY
- The strong showing of economic data from the US for the first three months of 2024 has spurred bets that the Federal Reserve’s is going to delay cutting rates towards the latter half of this year.
- The narrative surrounding ‘imminent’ rate cuts that dominated market perception near the end of last year has been thwarted by the Fed’s chair Jerome Powell suggesting that rates are likely to remain elevated, without the market completely discounting the possibility of further rate hikes.
- The immediate fallout from the higher-than-expected March inflation figures led to a systematic drop in Asian currencies, especially for some ASEAN based currencies, such as the Malaysian Ringgit, that have already been embattled by weakening currency against the dollar since the start of this year.
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- Strong ASEAN Banks Poised Well to Face Uncertain Rate Outlook23 Apr 2024
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