Asian stocks hit a two-month high after the US Federal Reserve decided not to hike interest rates for the first time in 17 months, but projected two more 25 basis point hikes this year. The euro made a one-month peak after the decision at $1.0865 and now awaits a European Central Bank meeting where markets expect an eighth straight rate hike will take borrowing costs to two-decade highs. China's industrial output and retail sales figures fell short of market forecasts, while New Zealand's economy shrank into recession this year. The kiwi was last down 0.7% at $0.6163.