Australian share market sheds billions on US inflation news heralding more interest rate pain

The S&P/ASX200 had shed 198.5 points, or 2.83%, while the broader All Ordinaries had dropped 196.3 points, or 2.7%.The S&P/ASX200 had shed 198.5 points, or 2.83%, while the broader All Ordinaries had dropped 196.3 points, or 2.7%.First published on Wed 14 Sep 2022 03.02 BST

The US federal reserve is expected to continue jacking up the cash rate as Wall Street suffered its biggest hit in two years. “This shows that inflation remains a difficult beast to tame and points to further interest hikes in Australia as well,” he said.

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Market meltdown is an ominous sign for interest ratesUS interest rates, and those around the world, may have to rise faster and further after the release of inflation data that was worse than anticipated and sent global sharemarkets tumbling. Where those in the markets saw rates peaking either late this year or early next year around 4 per cent, it now looks likely that peak will occur well into next year and solidly above 4 per cent, Controlled demolition!
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