News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Asian Stocks Pull Back After Latest Fed Rate Rise

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The U.S. Federal Reserve's announcement that it would raise short-term interest rates despite tepid inflation spooked investors in Asia following a minimal reaction in U.S. stocks.

Fed Backs Some Treasury Ideas for Cutting Bank Regulation

Federal Reserve Chairwoman Janet Yellen on Wednesday gave support to some recommendations made by the Treasury Department this week, saying the central bank has been looking into paring back certain Obama-era rules.

Fed Forecasts at Odds With Trump Administration's Growth Target

The Trump administration's plan to get the economy growing at a 3% annual rate has a skeptic: the Federal Reserve.

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Yellen Raises the Possibility of Increasing Inflation Target Above 2%

Federal Reserve Chairwoman Janet Yellen opened the door to raising the central bank's 2% inflation target someday, noting that an appropriate goal for inflation was "one of our most critical decisions."

Hong Kong Monetary Authority Raises Base Rate to 1.5% After Fed's Move

The Hong Kong Monetary Authority raised its base rate by a quarter of a percentage point to 1.5% on Thursday, matching the overnight interest-rate increase by the U.S. Federal Reserve.

Fed Raises Rates, Sets Out Plan to Shrink Asset Holdings Beginning This Year

The Federal Reserve said it would raise short-term interest rates and spelled out in greater detail its plans to start slowly shrinking its $4.5 trillion portfolio of bonds and other assets this year.

Australian Unemployment Rate Falls in May

Unemployment rate fell to a lower-than-expected seasonally adjusted 5.5% in May from 5.7% in April, the Australian Bureau of Statistics said Thursday.

U.K.'s Hammond Seeks to Ease Fears Over Access to EIB Funding

U. K. Treasury chief Philip Hammond will on Thursday seek to dispel fears that Britain risks losing access to financing from the European Investment Bank while it negotiates its exit from the European Union.

OPEC Stumbles in Face of Oil Glut

Production cuts aren't drawing oil out of storage and U.S. shale producers are humming, fueling the idea that OPEC and its allies missed the mark.

Mexico's Peso Rallies as Risks Recede

Mexico's peso traded Wednesday at its strongest level of the year, gaining for an eighth consecutive day as both domestic and external risks to the currency continue to decline.

(END) Dow Jones Newswires

June 15, 2017 03:15 ET (07:15 GMT)