HAMMACK said the Federal Reserve's independence is critical to reducing inf to 2%.

Reserve Bank of Australia deputy governor Hauser said he was surprised public trust in the central bank has remained broadly stable despite large rate hikes. Hauser said trust indicators have been roughly steady or slightly higher over the past 18 months, even as rates rose and inflation stayed well above target. The RBA this week implemented its fifth rate increase since 2026, lifting the cash rate to 4.85% — an 18-year high. Hauser warned higher rates will further raise mortgage burdens and come amid rising fuel costs, cost-of-living pressures, climbing unemployment and a weakening housing market, which have left consumer confidence in pessimistic territory. He noted these 'trust reserves' may temporarily cushion weak economic performance but will eventually be depleted.

Hang Seng Index futures rose 2.11% in the night session to 24,429, trading 508 points above the cash index.