Market Views: How Asian central banks can react to delayed Fed rate cuts

The US Federal Reserve (Fed) kept interest rates steady at the conclusion of its May meeting. Federal Reserve Chair Jerome Powell said it was unlikely that the central bank’s next move will be a rate hike, as central bank policymakers kept rates steady holding at a range of 5.25% to 5.5%. Although this stable stance was anticipated by the market, this move further “delays” the notion that rates will come down in 2024. As this delay is causing ripple effects across the global e…