Highlights

  • Fed's next meet: July 26-27
  • Bank of Canada raises rates by historic 100 bps
  • US Inflation soars at fastest pace since 1981

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Brace for a bazooka hike in interest rates

Bets show 50% chance of a 100 bps hike in rates by the US central bank in July 

Inflation that is the highest since since 1981 and a potential rate hike of 100 bps that is unseen before.That is the headline that the global markets are pricing in as traders brace for a historic hike from the Fed at its July 26-27 meeting after the scorching inflation print upwards of 9%.

The consumer price index, a broad measure of everyday goods and services related to the cost of living, soared 9.1% in the US, highest in 40 years. This pushing traders to bet that Jerome Powell and his team at the Fed will push for a historic hike of 100 bps, something that the neighbouring nation Canada already shocked watchers with.

This central bank announced a rate hike on Facebook Live!

The Bank of Canada on Wednesday increased rates by a surprise full percentage point amid fears that decades-high price pressures are becoming entrenched.

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