Asian stock markets close on negative note; due to Fed’s intentions
(MENAFN) Following the US Federal Reserve's declaration of its intentions to raise interest rates shortly to control inflation, Asian stock markets closed Thursday on a negative note.
Although, the US Federal Reserve held its target for 24 hours; with its interest rate remaining at 0.00 percent to 0.25 percent on Wednesday. Yet, it still hinted at a rate escalation in March.
Jerome Powell, the chairman of the Federal Reserve, suggested that there was enough space to increase interest rates while not jeopardizing the employment market.
At the bank's conference in March, he stated that the bank aims to raise interest rates, and asset sales are expected to come to an end. Nonetheless, he did emphasize that no negotiations about the amount of interest rate increases have taken place.
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