Three of the world’s biggest central banks are expected to raise interest rates this week, but investors wary of economic recessions are turning their attention to where borrowing costs might peak in 2023.
Investors expect the Federal Reserve, the Bank of England and the European Central Bank will increase interest rates at meetings this week but at a slower pace than in recent months.
Central banks on either side of the Atlantic have rapidly raised borrowing costs from historic lows this year in an attempt to cool racing inflation that has been exacerbated by Russia’s botched invasion of Ukraine.
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