Asian stock markets are mostly lower on Wednesday, following the broadly negative cues from global markets overnight, ahead of the US Fed's interest rate decision as well as the anticipated hawkish accompanying statement by Fed Chair Jerome Powell later in the day. The Fed is widely expected to raise interest rates by another 75 basis points, although some see an outside chance for a 100-point rate hike after hotter-than-expected U.S. inflation data last week. Asian Markets closed mostly higher on Tuesday.
CME Group's FedWatch Tool is currently indicating an 84.0 percent chance of a 75 basis points rate hike and a 16.0 percent chance of a 100 basis point rate hike.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.