Asian stock markets are trading mixed on Thursday, following the broadly negative cues from Wall Street overnight, as traders reacted to the US Fed's decision to raise interest rate by 25 basis points and signaled another rate hike despite recent turmoil in the banking industry. While the interest rate hike was widely expected, some traders may have been holding out hope the Fed would leave rates unchanged. Asian Markets closed mostly higher on Wednesday.
The central bank's latest projections suggest the Fed plans to raise rates just one more time this year to a range of 5.0 to 5.25 percent.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.