Asian stock markets are trading mostly lower on Thursday, following the broadly negative cues from Wall Street overnight, after the US Fed raised interest rates by another three-quarter of a percentage point to their highest level since early 2008 and signaled further aggressive rate hikes for the remainder of the year. Asian Markets closed mostly lower on Wednesday.
With inflation remaining elevated, the Fed also said it expects that ongoing interest rate increases will be appropriate. Fed officials expect to increase rates to 4.6 percent by the end of 2023 before eventually scaling back rates in 2024 and 2025.
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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.