Asian shares are mostly higher as the Federal Reserve and other central banks prepare for the year’s final barrage of interest rate hikes
FILE - A trader stands outside the New York Stock Exchange, Friday, Sept. 23, 2022, in New York. BANGKOK — — Asian shares were mostly higher on Tuesday as the Federal Reserve and other central banks prepared for the year’s final barrage of interest rate hikes.
Markets have struggled this year thanks to high inflation and the interest rate hikes engineered to combat it. Higher rates slow business activity by design but also risk causing a recession if they go too high, all while dragging down prices of investments. The Fed has hinted it will dial down the size of its rate hikes, leading to expectations for a more modest increase of 0.50 percentage points Wednesday.
Economists at Goldman Sachs expect Fed policy makers on Wednesday to signal their median expectation is for rates eventually to hit a range of 5% to 5.25%.
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