^{01 May 2023} The Week Ahead: Fed and ECB expected to continue their rate-hiking cycles

US: FOMC to deliver a 25 bps rate hike; tightening bias to stay We expect the FOMC to deliver a 25 bps rate hike, taking the FFTR to 5.25% at its 2-3 May meeting. A tight labour market, elevated core inflation and limited contagion from the banking crisis should support this decision.

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