With a US interest rate increase almost a done deal, investors are now trying to figure out whether it would be a one-off move or the start of a fresh tightening cycle, while also bracing for a borrowing-cost increase in Japan, which is highly likely and may jolt capital flows. As the odds of a 25 basis-point rate increase at the US Federal Reserve’s policy meeting on Thursday have risen to 92 per cent, stock traders have shifted the focus to whether the world’s biggest central banks would...