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Finance

Warsh\'s second U.S. FOMC as oil back above $100 revives rate-hike expectations

Markets are factoring in the possibility that Federal Reserve Chair Kevin Warsh could raise the policy rate at this week’s meeting. Oil prices have climbed above $100 a barrel as fighting between Iran and the United States resumes, reviving concerns about energy-driven inflation. Rate-hike odds priced in by futures markets have risen sharply, while bond selling has pushed long-term yields higher in the United States and Europe. Strong U.S. jobs data and inflation still above the Fed’s target are also weighing on expectations.

Finance

Bank of Korea raises interest rates for first time in 3-1/2 years, benchmark rate at 2.75 percent

The Bank of Korea\'s Monetary Policy Board raised the benchmark interest rate by 25 basis points to 2.75 percent from 2.50 percent. The central bank said it will keep the rate at 2.75 percent until the next policy decision. The board cited a domestic economic recovery and rising inflationary pressure. It flagged exchange-rate volatility, growing household loans and rising home prices in the Seoul metropolitan area as key financial stability risks.

Crypto

XRP rally could stall at $2.22 sell wall

XRP is trying to regain the $1 level, but an overhang of supply from mid-term holders who bought around $2 could act as strong resistance, an analysis said. On-chain data showed the average realised price for investors who bought 6 to 12 months ago was about $2.22, well above the current price. Derivatives funding rates were mixed by exchange, while futures volume continued to dwarf spot trading. Key near-term levels were cited at $1.11 and $1.36.