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Shares in the Asia-Pacific traded higher on Monday as investors assess inflation and recession fears.
European stocks closed sharply higher on Friday to end a volatile week, as investors assessed inflation and fears of a possible economic recession.
China's one-year and five-year loan prime rates were both left unchanged on Monday.
European stocks are expected to open lower on Monday after a tumultuous trading week last week.
The Federal Reserve raised benchmark interest rates 75 basis points on Wednesday in a move that equates to the most aggressive hike since 1994.
European stocks were choppy on Tuesday after sharp declines in global markets to start the week.
The S&P 500 declined nearly 4% overnight on Wall Street to 3,749.63, leaving its losses from its January record at more than 21%.
The yield on the 10-year note slipped to 3.276%, paring gains after notching its biggest move since 2020 in the previous session.
European stocks tumbled on Monday as investor sentiment was dominated by the prospect of forthcoming interest rate hikes.
There are growing fears that the Federal Reserve and other central banks could risk tipping the economy into recession.
The country's central bank cut its key interest rate by 150 basis points to 9.5% — the level it was at when Russia's invasion of Ukraine began.
European stocks closed lower on Friday as investors digested the European Central Bank's latest policy decisions and a hotter-than-expected U.S. inflation print.
European stocks fell on Wednesday as investors digested a profit warning from Credit Suisse and prepared for the latest reading of U.S. inflation on Friday.
The Reserve Bank of Australia unexpectedly announced a 50 basis points increase in the cash rate on Tuesday to 0.85%.
China's Caixin Services PMI released Monday came in at 41.4, an improvement over April's reading of 36.2 but still in contraction territory.