Rate Hikes Across the Globe Amid Energy-Driven Inflation Pressures

The Federal Reserve raised interest rates for the first time in over three years to 3.75-4.00 percent, signaling another increase before year-end.

This decision was backed by a higher-than-expected CPI print, with core CPI increasing 0.3 percent MoM, exceeding the 0.2 percent MoM consensus and underscoring persistent underlying inflation pressures.

The Bank of Japan followed with a split-vote hike to 1.25 percent, while the Bank of England held at 3.75 percent in a 6-3 vote, with three members favoring a rise to 4 percent as UK inflation reached 3.1 percent.