News Snapshot:
Sombre mood US inflation data will be released on Thursday, and is forecast to show the headline consumer price index growing at a hot 8.1 per cent year-on-year. The Fed has raised its policy rate from near zero at the start of the year, to a range of 3 per cent to 3.25 per cent in September, and indicated it is nowhere near finished to tame stubbornly high inflation. It has lifted the Fed funds rate by 0.75 percentage points three times in a row, and comments made by Fed officials indicate it is on track to deliver another jumbo...