How far will the steepest interest rate hike by central banks since the 1980s continue?
In the United States, the markets anticipated that a tenth increase by the Federal Reserve in just over a year, on Wednesday evening, would be the last of the cycle.
This expected increase of a quarter of a point should take Fed Funds rates above 5%, a level at which they should stabilize for a while, before falling again.
In Europe, we haven't reached that point yet, and the increase in the cost of money should continue.
The European Central Bank (ECB) should also, in all likelihood, proceed on Thursday to the seventh increase in its key rates in ten months.
The only question being how much: the majority of analysts expect a quarter point, twice less than at the last three monetary policy meetings.
This would bring the main European key rate to 3.25%, against -0.50% until July 2022…
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