The end of easy money for markets
US Federal Reserve chairman Jerome Powell has provided a path for aggressive interest rate increases.
The outcome of the policy meetings held by three of the world’s main central banks last week was a distinct move towards tighter monetary conditions to a greater degree than had been expected.
The US Federal Reserve, as it had signalled, will wind down its bond-buying programme at a much more rapid pace in the next couple of months and bring it to a conclusion by March. This will pave the way for it to begin raising rates by early summer.
