The question of how far and quickly the yuan will fall depends on Beijing's resolve in countering Donald Trump's tariffs with stimulus measures.
Beijing contends with a weakening yuan while awaiting policy clues from the incoming Donald Trump’s administration.
Base metals declined after US President Donald Trump said he would likely enact tariffs on Mexico and Canada by Feb. 1, hurting market sentiment even as he held off from imposing levies on China.
The Hong Kong Monetary Authority left its base rate unchanged at 4.75% on Thursday, tracking a move by the U.S. Federal Reserve to keep rates steady.
Policymakers left their benchmark rate unchanged amid signs that the economy is humming along, defying the president’s tradition-bucking pressure on the central bank.
Market pricing shows investors are nearly unanimous in expecting the Federal Reserve to stand pat on interest rates Wednesday, holding them in a range of 4.25% to 4.5%. Here's a look at how the central bank has steered policy since the turn of the century,
Since the Fed's first September rate cut, the fed funds rate has been slashed by 100 basis points. The U.S. 10-year Treasury yield, however, has gone in the opposite direction, rising to 4.6% fro 3.6% — a divergence between short-term and long-term rates that rarely has been seen.
WASHINGTON -- The US Federal Reserve on Wednesday left the target range for the federal funds rate unchanged at 4.25 percent to 4.5 percent, as recent data showed inflation is picking up.
Follow live coverage of the January FOMC meeting, interest-rate announcement, and Fed chairman Jerome Powell's press conference.
The fading shadow of reflationists in the Bank of Japan, and the latest addition to the board of an academic favouring an end to ultra-low interest rates, will likely bring the central bank's thinking closer to global peers taking a more conventional approach on monetary policy.
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