Will U.S. violent interest rate hikes end?
The New Taiwan dollar once rose above the 30.5 yuan barrier (photo by reporter Chen Meiying)
[Reporter Chen Meiying/Taipei Report] U.S. Treasury Secretary Yellen’s words of confidence paid off. U.S. stocks rose for two consecutive days, prompting Taiwan’s stock market to surge by more than 200 points in the morning. 30.495 yuan, temporarily closed at 30.525 yuan at noon, an appreciation of 3.8 cents, and a turnover of 690 million US dollars.
On the eve of the Federal Reserve's interest rate decision, U.S. Treasury Secretary Yellen pointed out that if there is a risk of a run on small and medium-sized banks, the federal government may step in to protect more bank deposits. Outflows of bank deposits have stabilized.
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Yellen's speech brought stability to the stock market, while a Goldman Sachs research report pointed out that the pressure on the banking system may prompt the Fed to suspend interest rate hikes and resume raising interest rates in May.
The director of National Bank of China believes that even if the Fed still raises interest rates by one yard to declare its determination to fight inflation, the path of subsequent interest rate hikes will become conservative.
Once the Fed suspends raising interest rates, Taiwan's central bank will follow suit. After all, the most important thing right now is the stability of the financial system.
From the perspective of the stock market, the U.S. stock market has been the first to reflect the market’s optimistic expectations in the past two days, which has spurred Taiwan stocks and other Asian stock markets to rise together. Convergence, observe the movement of foreign capital in the afternoon.
Major Asian currencies rose and fell each other, with the South Korean won and the Chinese yuan depreciating slightly, and the Japanese yen rising slightly.
The market awaits the Fed's final decision.
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