Asian Shares Mixed as Australia Hikes Interest Rate

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Asian shares were mixed Tuesday after Australia’s central bank raised a key interest rate for the first time since 2010. Trading was light with markets in mainland China, Japan, and some other countries closed for holidays. Australia’s central bank lifted its benchmark interest rate to 0.35 percent from 0.1 percent. Investors also are expecting another rate hike by the U.S. Federal Reserve as it and other central banks accelerate efforts to curb inflation. The central bank is expected to raise short-term interest rates by double the usual amount when it releases its latest statement on Wednesday. It has already raised its key overnight rate once, for the first time since 2018, and Wall Street is expecting several big hikes in coming months. ...

Source: https://www.theepochtimes.com/asian-sha ... 42318.html