A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan on March 22.LONDON - World stocks rallied on Tuesday , as traders held on to hope that interest rates will soon peak and come down later this year, even if latest US jobs data supported the case for a May hike from the Federal Reserve.
South Korea's central bank held rates steady for a second consecutive meeting on Tuesday, while the Bank of Canada is expected to leave rates unchanged when it meets on Wednesday. Traders still price in rate cuts by year-end as the economic growth outlook weakens, exacerbated by banking turmoil. The dollar eased 0.3 per cent to 133.18 yen , after jumping 1.1 per cent on Monday. The euro was 0.3 per cent firmer at US$1.089 , while sterling rallied 0.35 per cent.
Japanese government bond yields mostly fell, after new Bank of Japan Governor Kazuo Ueda vowed to maintain the bank's ultra-loose monetary policy.
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