SYDNEY - Asian stocks made a cautious start on Monday in a week that is almost certain to see the start of an easing cycle in the United States with the only question mark being the size of the cut, with markets split on the chance of an outsized move.
"The data bolsters the case for additional economic stimulus by year-end if China wants to achieve its target of around 5% growth in 2024," said Vivek Dhar, a mining & energy analyst at CBA. "The case for a 50bp cut seems clear to us: various iterations of a Taylor Rule imply policy is currently a full percentage point or more too restrictive," he added.
The Bank of England is generally expected to leave rates on hold at 5.00% when it meets on Thursday, though markets have priced in a 31% chance of another cut.
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