Oil Spike Triggers Coordinated Central Bank Tightening as Fed, ECB, and BOJ Prepare Rate Hikes

Global markets brace for a trio of central bank decisions this week, with the Federal Reserve expected to deliver a 25 basis point rate hike to 3.75%-4.00% on Wednesday. CME FedWatch data shows over 92% probability of a hike, following the ECB's own quarter-point move last week that lifted rates to 2.50%. The spike in crude oil above $108 a barrel after attacks on Saudi infrastructure has cemented the hawkish pivot across G7 economies.

Behind...