Asian stocks stall as US rates seen higher for longer

Asian stocks hit two-month highs following the US Federal Reserve’s choice to leave the interest rates unchanged. However, the Fed stated that it might increase the rates in the future, leading to two projected 25bps hikes in 2023. The chair, Jerome Powell clarified that more data regarding the recovery of the economy is needed before deciding further. The news impacted the Euro, with a one-month peak of $1.0865. Meanwhile, China is following with slower economic growth, which might lead to additional stimulus from Beijing soon.