How the perspectives transformed in a matter of a few weeks! In our previous newsletter, we were contemplating whether global interest rates had reached their terminal limits However, recent developments suggest otherwise, as evidenced by the actions of two significant central banks The Reserve Bank of Australia and the Bank of Canada have both opted to raise rates this week by 25 basis points ( each, with the potential for additional rate hikes soon Given the already hawkish stance of the Bank of England and the European Central Bank, it appears that global interest rates are on a steeper upward slope as inflation remains elevated On 14th June, the US Federal Open Market Committee (FOMC) convened, and as expected, decided to maintain the current benchmark interest rates Here we examine how the US's underlying economic data points stack up.
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