Irish 10-year bond trades at 1.6% ahead of key US interest rate decision                 

US Federal Reserve is expected to conclude its meeting today with a 50-point hike, and the Bank of England is expected to lift rates by 25 basis points 

Federal Reserve chairman Jerome Powell. 

The yield on the Irish 10-year bond traded at over 1.6%, its highest level since the middle of 2015, as investors await the decision on the widely anticipated US interest rate hike decision on Wednesday evening.  

Surging inflation following the recovery of the global economy from the Covid crisis and the fallout for energy and commodity prices from the Ukraine war has put pressure on many central banks around the world to start hiking official interest rates aggressively.