Prospect of earlier Fed rate hike sends Asia markets lower

HONG KONG (AFP): Asian markets mostly fell Thursday (June 17) and the dollar held strong gains after the Federal Reserve brought forward its forecasts for hiking interest rates as it looks to prevent overheating in the US economy, which is enjoying a blockbuster recovery.

After a much-anticipated meeting, top bank officials maintained their ultra-easy monetary policy and repeated their belief that the sharp spikes in inflation were expected as businesses reopen and people return to their daily lives.