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Posted 9/21/2023, 9:47:00 PM

Global Markets Tumble as Hawkish Fed Signals Higher Rates for Longer While Other Central Banks Hold Steady

World stocks plunged for a 2nd day as investors react to hawkish Fed outlook of higher rates for longer
BOE and SNB kept rates on hold despite expectations, in contrast to hawkish Fed
All eyes on BOJ meeting today, though no policy change expected, end to yield control seen by 2024
Yen rebounded from 2023 lows but intervention speculation remains as Kishida doesn't rule it out
Key data today Japan & Malaysia inflation, NZ trade, Japan & Australia PMIs, then Eurozone & UK PMIs

reuters.com

Relevant topic timeline:

9/11/2023

Markets React to Bank of Japan Policy Shift; U.S. Inflation and Retail Data Eyed

The Bank of Japan has signaled a possible early end to its easy money stance, with the central bank considering interest rate hikes and an early end to its bond-buying policy, which caught markets off guard and caused the yen to surge and Japanese government bond yields to reach a 9-year high.

9/28/2023

Key Economic Data and China Concerns to Drive Markets Ahead of Quarter End

Asian investors enter the final trading day of a challenging quarter with improved sentiment following a rebound in global risk assets, while economic indicators from Japan and ongoing concerns over the Evergrande situation and China's manufacturing data loom in the background.

10/2/2023

BOJ Discusses Eventual Exit from Ultra-Loose Policy, But Remains Committed to Easing Until Inflation Target is Stably Achieved

The Bank of Japan is considering the eventual end of its ultra-loose monetary policy, with some policymakers discussing the conditions and timing of a future exit, according to a summary of opinions from their September meeting, leading to a rise in government bond yields.

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