US Fed chair Jerome Powell said support for the 25 basis-point rate increase was “very strong across the board”.
The Reserve Bank of Australia increased its cash rate to 3.85%, the highest level since April 2012, in a decision predicted by only nine of 30 economists.
The deal hasn’t come cheap for anyone, something policymakers need to keep in mind.
China’s post-covid recovery has lost steam and needs continued policy support, says an analyst.