A look at the day ahead in Asian markets from Jamie McGeever.
Research from the Bank for International Settlements shows that the global tightening cycle since the start of last year is the most synchronized and strongest over the past 50 years, with more than 95% of central banks raising their policy rates.One notable absentee from that band is the People's Bank of China . It cut rates in 2020, 2021 and 2022, and is expected to maintain a supportive stance this year even though the economy grew at a faster-than-expected pace in the first quarter.
But the road ahead looks bumpy, and other indicators for March were mixed - retail sales smashed forecasts, but investment fell short. The PBOC sets its one- and five-year loan prime rates on Thursday. They have been anchored at 3.65% and 4.30%, respectively, since last August.- Malaysia trade By Jamie McGeever;
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