PUBLISHED : 28 Jul 2023 at 06:46
The Stock Exchange of Thailand (SET) joined a rally of Asian bourses yesterday after the US Federal Reserve lifted interest rates to a 22-year high and downplayed the prospects of an American recession this year.
Hong Kong’s technology-heavy Hang Seng index led regional gains on Thursday after the Fed’s Monetary Policy Committee raised the funds rate by 0.25% to 5.25-5.50% at its meeting on July 26 and left the door open for a further hike in September.
Fed chair Jerome Powell said the economy still needed to slow and the labour market to weaken for inflation to “credibly” return to the central bank’s 2% target. He expressed hopes that the Fed could meet its target of a gradual slowing of the US…
