monetary policy
Why interest rates haven’t peaked
As terminal rates loom in developed and developing countries, market watchers are trying to pinpoint the moment when central banks will pivot from hiking to cutting rates. Don’t hold your breath
10 November 2022 - 05:00
The US Federal Reserve hiked rates by another 75 basis points (bp) last week, its fourth such hike in a row. It’s raised the odds that the Reserve Bank will follow suit at its November meeting, with both central banks likely to err on the side of doing more rather than less as inflation proves remarkably “sticky”.
The Bank has been moving in lockstep with the Fed since July, delivering two successive hikes of 75bp in July and September. And it’s not done hiking yet...
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