New York Fed President John Williams said on Friday the central bank remained focused on bringing inflation down to its 2% target and it's "premature' to talk about rate cuts at this point". The decline came after Dalian iron ore futures dropped on Friday on softening demand and expectation of a lack of forceful stimulus in 2024 from top consumer China. Link's acquisition represents Mitsubishi UFJ Financial Group's 8306.T seventh buy in the fund administration industry in the decade.