In a photo taken on November 4, 2019 a subway train crosses a rail bridge over the Han river, before the skyline of the Yeouido business district of Seoul.
Ed Jones | Afp | Getty Images
Asia-Pacific markets are set for a mixed open after the U.S. Federal Reserve held its benchmark policy rate, but said it will raise interest rates one more time this year, according to the central bank’s projections.
Projections showed the central bank expects to hike rates to a median of 5.6% by the end of 2023, up from the current range between 5.25% and 5.5%.
The rate-setting Federal Open Market Committee projected two rate cuts in 2024, which is two fewer than its forecast in June. That would put the funds rate around 5.1%.
In Australia, the S&P/ASX 200 is set for a lower open, with futures at 7,151 compared with the last close of 7,163.3.
Japan’s Nikkei 225 is also set to fall as the Bank of Japan starts its two-day monetary policy meeting, with the futures contract in Chicago at 32,760 and its counterpart in Osaka at 32,750 against the index’s last close of 33,023.78
In contrast, futures for Hong Kong’s Hang Seng index stood at 17,958, pointing to a weaker open compared to the HSI’s close of 17,885.60.