Asian markets rise ahead of U.S. inflation data

U.S. futures edged higher and oil prices rebounded from Tuesday's plunge but stayed below US$100 per barrel.

Strong U.S. inflation “may cement the case” for tighter Fed policy, but traders might choose to “buy into the stance of peaking inflation” as oil prices fall, Yeap Jun Rong of IG said in a report. South Korea’s central bank on Wednesday hiked its policy rate by an unprecedented margin of 0.5 percentage points to 2.25%, seeking to tamp down price increases that have been worsened by soaring energy and commodity prices and disruptions caused by Russia’s war on Ukraine.

Maybe if they stop eating dogs and bat soup maybe their inflation rates will go down.

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