Analysts divided on whether markets have priced in high interest rates

Global financial markets have endured a torrid 2022 after central banks around the world — with the notable exception of Japan — aggressively tightened monetary policy to curb rocketing prices in the wake of the pandemic. 

Worsened by a combination of shocks, including the effects of the Russia-Ukraine war, and supply chain bottlenecks, the likely result is that inflation will remain well above many countries’ targets for longer than initially expected…