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Data on Wednesday showed cooling consumer price inflation, although that was offset on Thursday by news that U.S. jobless claims fell in the latest week and by figures showing U.S. import prices increased 0.9% last month.
The benchmark Sensex and Nifty indices are expected to open flat on May 17, following GIFT Nifty trends indicating a gain of just 7 points for the broader index.
"I don't see any indicators now telling me ... there's a reason to change the stance of monetary policy now," Williams said in an interview with Reuters, adding that he did not expect the case for a rate cut to fall into place "in the very near term."
MARKET WRAPS Watch For: EU CPI; France ILO unemployment; trading updates from Richemont, Land Securities, Engie Opening Call: Shares could lose ground in Europe on Friday, following...
Some Fed officials have emphasized overnight the need for a extended period of restrictive monetary policy as they seek clearer signs of sustainable inflation reduction.