At most, economists say FOMC officials could provide more information on potentially increasing the pace of bond purchases above the current US$120 billion a month.
"No change to the Fed funds rate is universally expected," with the Fed"continuing to eschew... negative interest rate policy," said Rodrigo Catril, senior analyst at National Australia Bank.A higher yen against the dollar also weighed on the Tokyo market, analysts said. The US dollar fetched 103.56 yen in Asian trade, against 103.61 yen in New York and 104.08 yen in Tokyo late Tuesday.
Japan booked a trade surplus of 366.8 billion yen in November, the fifth consecutive monthly surplus, according to finance ministry data released before the opening bell, which provoked little reaction from investors. Among major shares in Tokyo, Panasonic rallied 2.50 per cent to 1,190 yen after a brokerage firm recommended buying its shares.BT is now on Telegram!