Federal Reserve Hikes the Fed Funds Rate by 25 bps - The FOMC hiked the federal funds rate by 25 bps on Wednesday amid continued strength in the labor market and elevated inflation. However, the Committee noted that recent financial system stresses have created considerable uncertainty in the economic outlook and, by extension, the monetary policy outlook.
Central Bank Bonanza - The Federal Reserve was not the only central bank assessing monetary policy this week. Central banks across Europe and the emerging markets also met to decide the direction of interest rates. As far as G10 institutions, the Bank of England and Swiss National Bank were in the spotlight. In the emerging markets, focus was dedicated to the Brazilian Central Bank.