Fed's hawkish remarks to dampen trading sentiment

KUALA LUMPUR: The hawkish tone set by the US Federal Reserve is likely to impact trading sentiment on Bursa Malaysia and other regional markets as it signalled that interest rates are likely to be higher for longer.

Overnight, the US central bank stayed put on its Federal Fund Rate for September but suggested there could at least one more rate hike before the year was out, while also guiding that rates will be held for longer next year before the lending cuts began.