Australian share futures indicate opening gain. US shares rally after 75 basis point Federal Reserve rate hike. Sezzle shares in trading pause pending imminent announcement. Follow updates here.
Australian shares are set to rise as markets were buoyed by the US Federal Reserve delivering a bumper interest rate rise as it seeks to put a lid on raging inflation.
Federal Reserve officials raised interest rates by 75 basis points for the second straight month, delivering the most aggressive tightening in more than a generation to curb surging inflation -- but risking a sharp blow to the economy. Policy makers, facing the hottest price pressures in 40 years, lifted the target range for the federal funds rate on Wednesday to 2.25 per cent to 2.5 per cent. That takes the cumulative June-July increase to 150 basis points - the steepest rise since the price-fighting era of Paul Volcker in the early 1980s.P 500 +1.3% Nasdaq +2.5%
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