Australian shares are set to fall to start the session, taking direction from New York. $A steady. Bitcoin pulls back. Trade data ahead. Follow updates here.
Federal Reserve Bank of St. Louis president James Bullard urged policymakers to raise interest rates to 3.5 per cent this year to bring inflation down from near a four-decade high, adding that some of those hikes could be reversed late next year or in 2024.
“This may provide a practical benchmark for where the constellation of rates may settle once inflation comes under control in the US,” he said during the virtual presentation.
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