Asian Stocks Brace for US Inflation and Fed Minutes.

Asian stocks dipped ahead of the US inflation report, which is expected to influence the Federal Reserve's decision on interest rates. The report is expected to show core inflation rose 0.4% on a monthly basis and 5.6% year-over-year in March. Markets are pricing in a 66% chance of the Fed raising interest rates by 25 basis points in May and then pausing for the subsequent meetings. The International Monetary Fund warned of lurking financial system vulnerabilities that could erupt into a new crisis and slam global growth this year as it lowered its 2023 global growth forecasts.