Market focus is very much on next week’s central bank meetings, with the Bank of England, Fed and European Central Bank all set to raise rates by 0.50%.

Further hikes are expected in the coming months as the fight against high inflation continues, however, we expect rates to peak around mid-2023, followed by potential rate cuts as the focus turns to recession and growth.

The latest US inflation data will also be released next week, which is critical to the Fed’s future interest rate path and the pricing of global asset classes. It is also a busy week for UK data, with inflation, jobs, and retail sales figures all due. This week’s data has reiterated a slowing UK housing market with the biggest monthly price drop since 2008.