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US Fed likely to keep rates steady as hopes of early cuts fade
US Fed likely to keep rates steady as hopes of early cuts fade
Economy
by  AFP

The US Federal Reserve is expected to hold interest rates steady for a sixth straight meeting Wednesday, with a summer start to cuts looking less likely owing to stubborn inflation. Analysts broadly expect an announcement on runoff to come this week or at the next interest rate meeting in June. bys/sst/dan

Weak yen boosts tourist wallets in Japan
Weak yen boosts tourist wallets in Japan
Economy
by  AFP

Foreign tourists are flocking to Japan in record numbers and thanks to a sliding yen many are living like kings, splashing out on everything from kimonos to knives and slap-up meals. "Thanks to the weak yen, foreign customers are buying a lot of handmade knives, even as prices rise," said Yuki Suzuki, 21, who works in a shop selling knives, another tourist favourite.

Asian markets track Wall St down ahead of Fed decision
Asian markets track Wall St down ahead of Fed decision
Economy
by  AFP

Asian stocks sank in holiday-thinned trade Wednesday, tracking a sharp sell-off on Wall Street after fresh US data dealt another blow to hopes the Federal Reserve will cut interest rates this year. That provided another hammer blow to hopes the Fed will cut rates this year, with bets already reduced to just one by January -- compared with an expected six at the start of 2024.

Starbucks points to weaker consumer as profit falls
Starbucks points to weaker consumer as profit falls
Economy
by  AFP

Starbucks reported lower profits on falling sales on Tuesday as the coffee giant pointed to weakening consumer sentiment and lackluster conditions in China as factors behind an earnings miss. Starbucks has taken note of a large number of cases where consumers begin digital orders and do not follow through with a transaction.