* Fed lifts rates, marks end of "accommodative" policy
* NZ holds rates, Taiwan expected to hold later
* BSP, BI seen hiking on Thursday; RBI set to hike next week
* Asian economies gravitate towards China, away from U.S.
By Swati Pandey and Vatsal Srivastava
SYDNEY/SINGAPORE, Sept 27 (Reuters) - New Zealand's central bank held interest rates on Thursday after the Federal Reserve delivered another widely anticipated hike, but trade deficit-laden Indonesia and the Philippines are expected to at least match the United States later in the day.
In a statement that marked the end of the era of "accommodative" monetary policy, Fed policymakers lifted the rates by 25 basis points (bps) to 2.00-2.25 percent. The U.S. central bank foresees another hike in December, three more next year, and one in 2020.
But for the stronger Asian economies, which are increasingly gravitating towards China on trade and investment, and away from the United States, the Fed outlook does not move the needle as much as it did during its previous tightening cycles.
South Korea's central bank Governor Lee Ju-yeol said the Sino-U.S. trade conflict, as well as weakness in inflation and the job market weighed against policy tightening. Later on Thursday, Taiwan is also widely expected to leave rates unchanged at 1.375 percent.
"For many Asian economies, it will be domestic rather than external factors that drive their monetary policy," said Krystal Tan, Asia economist at Capital Economics.
More fragile economies, however, cannot afford that luxury as their trade deficits expose them to portfolio outflows. They need to offer investors a hefty premium over U.S. rates to keep them on site and curb currency pressures.
Bangko Sentral ng Pilipinas (BSP) is seen hiking rates by 50 bps to 4.50 percent later on Thursday to curb inflation and shore up the fragile peso, adding to the three hikes worth 100 bps since May.
In August, inflation surged to a more than nine-year high of 6.4 percent, above the central bank's 2-4 percent comfort range, prompting policymakers to say they will take "strong immediate action."
Around the same time as the BSP, Bank Indonesia is seen adding 25 bps to its four previous hikes this year, bringing rates to 5.75 percent, or 150 bps higher since May.
The peso is trading around its lowest in 12 years, having shed some 8 percent against the dollar year-to-date, while the rupiah is around a two-decade low after a 9 percent plunge.
Asia's worst performing currency, the rupee, which has weakened by more than 12 percent to record lows, is also likely to be a key consideration for Reserve Bank of India, which is expected to hike by 25 bps next week.