Global stock markets were mixed Thursday after notes from a Federal Reserve meeting showed officials expect more U.S. interest rate hikes to fight stubborn inflation.
A currency trader walks near the screens showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Thursday, Feb. 23, 2023. Asian stock markets rose Thursday following Wall Street's biggest one-day decline in two months after notes from a Federal Reserve meeting showed officials expect to keep U.S. interest rates high to fight stubborn inflation.
“The need for ‘higher for longer’ rates was made plain," said Vishnu Varathan of Mizuho Bank in a report. In Asia, the Shanghai Composite Index lost 0.5% to 3,276.19 and the Hang Seng in Hong Kong fell 0.5% to 20,323.24. Global stock prices have been declining on worries inflation that hit multi-decade highs last year might not be cooling as quickly or smoothly as traders hoped.
The Fed's key lending rate stands at 4.50% to 4.75%, up from close to zero a year ago. It has said it expects no cuts this year.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD awaits Federal Reserve Minutes inside falling wedgeGold price (XAU/USD) holds lower grounds near $1,835, following a two-day downtrend, as markets await the key Federal Open Market Committee’s (FOMC) M
Read more »
Federal Reserve to raise interest rates thrice in 2023 – CitibankIn their latest forecast report, economists at Citigroup raised their outlook for global growth slightly while revising up their estimates for the US
Read more »
Gold Price Forecast: XAU/USD slides on hawkish Federal Reserve Minutes, United States data eyedGold price (XAU/USD) bears the burden of hawkish Federal Reserve (Fed) bias, as well as the geopolitical fears, as the yellow metal pokes a short-term
Read more »
Fed officials back ongoing rate hikes to quell above-target inflation: Fed minutes By Investing.com*FED OFFICIALS BACK ONGOING RATE HIKES TO QUELL ABOVE-TARGET INFLATION: FED MINUTES
Read more »
Doubling down? Strategist who revels in challenging the consensus sticks by her call for 8% fed-funds rateDominique Dwor-Frecaut, a former associate with the New York Fed, says the Fed needs to hike the fed-funds rate to 8% to stabilize inflation.
Read more »
Fed's Bullard: Will have to go north of 5% to tame inflationSt. Louis Federal Reserve President James Bullard told CNBC on Wednesday that the Fed will have to go north of 5% to tame inflation, as reported by Re
Read more »