Mirroring the broadly negative cues from Wall Street overnight, Asian stock markets are a sea of red on Thursday, amid renewed concerns about the outlook for interest rates after the US Fed signaled on keeping interest rates at an elevated level through 2024 after one more rate hike this year, despite the decision to hold interest rates steady this month. Asian Markets closed mostly lower on Wednesday.
The forecast for rates at the end of 2024 was raised to 5.1 percent from 4.6 percent in June, while the outlook for rates at the end of 2025 was increased to 3.9 percent from 3.4 percent
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