Market Watch

All eyes on Fed meeting this week after ugly inflation data

Markets will pay close attention to US central bank’s interest rate outlook. PHOTO: REUTERS
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SINGAPORE - Soaring inflation, falling US consumer confidence and higher interest rates have become the headline news weighing down market sentiment over the past week. And there appears to be no relief in sight.

A day after the European Central Bank raised rates, United States data showed inflation accelerating to a new 40-year high of 8.6 per cent last month, which is worse than expected.

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