Oliver Mangan: Markets want to see action from central banks

Thursday’s ECB Council meeting will be important for both bond and currency markets

Chair of the US Federal Reserve, Jerome Powell. The main central banks have been united in their efforts to assuage market concerns that monetary policy could be tightened early in this cycle to counter rising inflationary pressures. File photo: AP

The main central banks have been united in their efforts to assuage market concerns that monetary policy could be tightened early in this cycle to counter rising inflationary pressures.

Futures contracts have moved recently to price in the fact that rates hikes could occur as early as the second half of next year in the US and UK.