ING: Fed and ECB May Each Hike Rates at Least Once More

Odaily News: ING now expects the Federal Reserve and the European Central Bank to each raise interest rates once more before the end of the year, a shift from its previous forecast of keeping rates unchanged.

ING economists said in a report: "Wednesday's Fed meeting and last week's ECB meeting indicate that the two central banks are unlikely to adopt the very accommodative monetary policy we had previously expected." The economists noted that both central banks are currently facing a supply-side shock triggered by soaring energy prices, although the impact on the overall economy remains limited for now; at the same time, people still remember the sharp rise in inflation in 2022 and the delayed monetary policy response. The economists expect both central banks may raise rates in December. (Jinshi)