LONDON, May 17 - Global stocks eased on Friday after Federal Reserve officials hinted U.S. interest rates may not fall any time soon, while commodities rallied on the back of optimism over a series of measures in China to stabilise its beleaguered property sector.
Traders expect roughly two quarter-point cuts from the Fed this year, with November being the most likely starting point. Monetary policy is"restrictive" and"is in a good place," Federal Reserve Bank of New York President John Williams said."I don't see any indicators now telling me ... there's a reason to change the stance of monetary policy now."
Shanghai's CSI 300 , opens new tab ended up 1%, while Hong Kong's Hang Seng Index , opens new tab hit its highest since August 2022, up 0.9%. The Japanese currency has fallen around 9.5% this year as the Bank of Japan has kept monetary policy loose while higher U.S. rates have drawn money towards U.S. bonds and the dollar.
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