Asian stock markets are trading mostly lower on Thursday, following the broadly negative cues from global markets overnight, on renewed concerns over the outlook for interest rates after the US Federal Reserve raised interest rates by 50 basis points and signaled further rate hikes ahead. Asian Markets closed mostly higher on Wednesday.
The Fed expects rates to ultimately be raised higher than forecast back in September. The median forecast suggests rates will be raised to a so-called terminal rate of 5.1 percent next year compared to the September projection of 4.6 percent.
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