[$$] Fed’s interest rate increase chills Asia-Pacific equities

Asia-Pacific equities slipped on Thursday after the US Federal Reserve raised rates and gave a bullish assessment of the country’s economy, presaging more tightening. The US Federal Reserve lifted interest rates on Wednesday, and signalled that two further increases were likely in 2018 as it upgraded its economic outlook. The Fed projected gross domestic product growth in 2018 of 2.8 per cent, up slightly from its March outlook of 2.7 per cent and said its preferred measure of inflation would reach 2.1 per cent this year against a March projection of 1.9 per cent.

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