Central Banks Eye Another Interest Rate Hike This Week ...Middle East

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Central Banks Eye Another Interest Rate Hike This Week
The US Federal Reserve and the Bank of England this week are set to hike interest rates steeply again in a bid to chase down scorching inflation, investors are betting. The two central banks are expected to look through recession fears and continue their fight against historic price rises. Despite inflation dropping to 8.3 percent across the pond, analysts have warned price pressures are starting to embed in the US economy, likely forcing Federal Reserve chief Jerome Powell and the rest of the rate setting committee to lift borrowing costs 75 basis…

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