Asian markets fluctuated Thursday following a tepid performance in New York and Europe as traders fret over the inflation outlook and central bank plans to hike interest rates to tame rampant prices. ManilaBulletin
Wall Street closed relatively flat following mixed corporate results, and as a Federal Reserve report said that the United States economy was "little changed" in recent weeks.
However, investors were jolted by news that United Kingdom prices were still elevated, rising more than 10 percent on-year last month owing to soaring food costs, fanning bets the Bank of England will have to keep tightening monetary policy. The BoE has hiked rates 11 times since late 2021 in an unsuccessful bid to keep inflation close to a two percent target.
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