CSRC chairman Wu Qing said the regulator, working with the People’s Bank of China, will study and advance a pilot program for RMB foreign-exchange futures to boost the attractiveness and competitiveness of China’s opening-up framework.

Federal Reserve Chair Kevin Warsh said on Wednesday he wants markets to price securities based on their own read of the economy rather than on expectations of how Fed officials will interpret data. "The more markets focus on real economic changes and can judge which data are more or less important, the more they will form pricing they consider most likely," he said, adding this would avoid a situation in which "financial markets are merely echoing what we have said."

Economics professor Phil Powell said he expects the Fed to hold rates at this meeting. He said markets had feared higher inf prior to a Washington‑Tehran peace deal after oil surged and inf topped 4%, making a near‑term Fed hike more likely than a cut. Powell added an Iran peace agreement would be a sizeable disinflationary shock—oil could fall more than expected and lower the odds of near‑term hikes. He noted this was the first rate decision under the new Fed chair; while markets may view the new chair as more cut‑friendly than his predecessor, Powell said that has not proven true. On cuts, he said rate reductions are unlikely before year‑end because inf must fall first.