28 days ago
Latestly
Wall Street sank on Wednesday after notes from the Federal Reserve's latest board meeting showed members expect "ongoing increases" in its key lending rate to slow the economy. The Shanghai Composite Index gained 0.1per cent to 3,294.68 and the Hang Seng in Hong Kong advanced 0.5 per cent to 20,524.60. The Fed's key lending rate stands at 4.50 per cent to 4.75 per cent, up from close to zero a year ago. Trades see a 3-in-4 chance the Fed will raise rates by 0.25 points at its next meeting in March, according to CME Group. A month ago, traders saw a roughly one-in-five chance that the Fed wouldn't raise rates at all in March.
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