SYDNEY: Asian shares steadied on Thursday as Chinese stocks eked out rare gains, while investors stuck to bets for sizable cuts in U.S. interest rates this year even if the kick off might now be a little later than first hoped.
The Federal Reserve committee's decision to hold rates at 5.25-5.5% on Wednesday was no surprise, but it emphasised that rates would not be cut until it had more confidence that inflation was truly beaten. In a media conference, Fed Chair Jerome Powell flatly stated a cut as early as March seemed unlikely, but also conceded that everyone on the committee was looking to ease this year.
