Asian markets reversed Thursday after forecast-topping US inflation dealt a hefty blow to hopes for a June interest rate cut and forced traders to re-evaluate the outlook for monetary policy, with a warning that the next move could even be a hike.| Briefly
The European Central Bank is expected to freeze its key interest rate at a record high again Thursday but pave the way for a first cut in June as inflation eases. The Swiss National Bank kicked off the rate-cutting cycle last month when it lowered its main rate by 0.25 percentage points -- becoming the first major central bank to do so.| Briefly
US consumer inflation continued to accelerate last month, according to US government data published Wednesday, reducing the chances of an early interest rate cut from the Federal Reserve.| Briefly