Global markets fall after US Federal Reserve holds interest rates

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Global markets fall after US Federal Reserve holds interest rates

Asia-Pacific markets are falling across the region after the US Federal Reserve held its benchmark policy rate, but said it will raise interest rates one more time this year. It has also signaled it will hold higher rates for longer. Overnight in the US, all three major indices fell and that's despite the Fed raising growth estimates to 2.1% this year, up from June's 1.0 % projection. Additionally, core inflation has peaked in the US at 3.7% this year lower than June's projection of 3.9%. European stocks are also heading for a lower open, ahead of a raft of interest rate decisions from central banks in England, Turkey, Sweden, Switzerland and Norway.