Inflation, Rate Hike, Growth Worries Keep Market Sentiment Muted

Markets remained subdued as inflation and inflation combat dominated sentiment amidst a 50-basis points rate hike by the Reserve Bank of Australia. Caution also prevailed ahead of the ECB's interest rate review on Thursday and U.S. inflation data release on Friday. Decline in Germany's factory orders and Euro Area's construction PMI numbers too dampened sentiment.

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