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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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It is a busy week for the world’s central banks with most except the Bank of Japan expected to hike rates further. While different banks started tightening at different times, this cycle is fairly synchronised (again apart from Japan) and many who started late are catching up with outsized moves.
- The Fed is the focus for the week and it is projected to raise rates 75bp on Wednesday 21 September. The Riksbank should hike 75bp on Tuesday 20 September. Wednesday could see the final hike in Brazil (+25bp). On Thursday 22 September, the BoE, SNB and Norges Bank should all increase rates 50bp, while Indonesia should see 25bp and the Bank of Japan is expected to remain on hold. See Central Banks: More Tightening This Week, Ex Japan, Feb 75bp (includes links to MNI Central Bank Previews).
- There is more tightening to come across the OECD and Asia as markets are not expecting terminal rates to be reached until the first half of 2023. And central banks have made it clear that they are committed to reducing inflation even at the risk of recession.
Cumulative rate hikes this cycle (bp) - there's more to come
Source: MNI - Market News, Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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