KUALA LUMPUR: The correction on Wall Street overnight spilt over to regional markets including Bursa Malaysia, as the US Federal Reserve dashed hopes it would begin cutting interest rates later this year.
The Fed yesterday announced an increase in its benchmark lending rate by 25 basis points as expected and signalled yet another hike at its next meeting that will bring it to a projected terminal rate of of 5%-5.25%.
Already a subscriber? Log in
Save 30% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
