Now: Recession is the Market Mover
Euro is one of the weakest performers yesterday as the fear of the local economy recession hovering around the markets and also the dreadful energy crisis with no sign of end. The situation on politic in UK also didn’t show any good sign as of today 30 officials resign to protest of the current decision by the Prime Minister Boris Johnson.
From FOMC Meeting Minutes, it is shown that the policymakers are agreed that the current inflation situation requiring a very restrictive interest rate and actually able to become more restrictive if the situation do not show any improvement. For now, FED is agreed to the rate hike of 75-basis point on the next meeting and did not mention about 100-basis point hike.
7 July 2022