May 27, 2022: Global stocks pushed higher on Friday as investors hoped that rising global interest rates may curtail sky-high inflation.

The latest data from the United States showed inflation was moderating, helping boost sentiment.

The PCE price index slowed sharply in April, increasing just 0.2 percent after several months of accelerating at more than twice that pace and 0.9 percent in March.

Over the last 12 months, the key inflation measure slowed to 6.3 percent from 6.6 percent in the prior month, according to the data.

Excluding volatile food and energy goods, the increase in the “core” PCE price index was a more modest 4.9 percent.

The PCE is the US Federal Reserve’s preferred price gauge, and the central bank has launched a counter-offensive against inflation with a series of aggressive interest rate hikes to cool the economy.

Those have battered stock markets in recent months as investors worried that the sharp hikes in interest rates will push the global economy into a…

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