All Eyes On British Inflation On Wednesday

Many stock markets started the week somewhat nervously as commodities generally made gains and Huanya Forex scamthe war in Ukraine intensified over the weekend. The key release this week for forex markets is British inflation on Wednesday. This preview of weekly data looks at GBP/USD and EUR/ZAR.

Both the Fed and the Bank of England raised rates last week as widely expected, with both also committing to tackle inflation this year. The Fed indicated as many as six rate hikes in total during 2022, while the Bank of England was somewhat more cautious.

The uncertainty resulting from the war has made the positions of central banks more difficult because, although inflation is very high and likely to rise further in many countries, the outlook for economic growth around the world seems less optimistic.

Focus is also on the South African Reserve Bank this week, which is expected to hike its repurchase rate to 4.25%. The central banks of Hungary, Switzerland, Norway, and Mexico are also expected to meet this week, with tightening or at least tapering looking likely for most.

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