Brace for the biggest tightening of monetary policy in more than a decade
Bloomberg report on Citigroup and JPMorgan economists warning of rate rises around the globe in 2018
- The two banks say average interest rates across advanced economies will climb to at least 1%
- That'd be the largest increase since 2006
"2018 is the year when we have true tightening," said Ebrahim Rahbari, director of global economics at Citigroup in New York. "We will continue on the current path where financial markets can deal quite well with monetary policy but perhaps later in the year, or in 2019, monetary policy will become one of the complicating factors."
ps. Plenty of central bank meetings this week - Federal Reserve; ECB, BoE and SNB coming up!