Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
RBNZ Cuts Rates Amid Inflation and Growth Concerns
The Reserve Bank of New Zealand (RBNZ) lowered its official cash rate by 50 basis points to 4.75% on Wednesday, aligning with market expectations. The move is aimed at controlling inflation and supporting economic growth.
Inflation Targets and Economic Outlook
The RBNZ cited growing confidence that consumer price index (CPI) inflation will fall within its 1% to 3% target range by the September quarter. However, the central bank emphasized that at 4.75%, the cash rate remains restrictive, with future rate changes dependent on the economy's trajectory.
Weakening Economy and Labor Market
Despite the rate cut, the RBNZ expressed concerns about the weak state of the New Zealand economy and forecasted a softening labor market in the coming months. This is the second rate cut in 2024, following a 25 basis point reduction earlier in the year.
Uncertainty in Future Rate Cuts
The RBNZ hinted that while it had signaled potential further cuts, future rate changes might not be guaranteed. Policymakers are now taking a cautious approach, monitoring the impact of previous rate reductions on the economy.
Following the announcement, the New Zealand dollar (NZD) weakened, with the NZD/USD pair dropping nearly 0.5%.
