Global policy chiefs face hawkish market bets on inflation

Now, six Fed hikes are priced in. And across G-10 economies, swaps futures show traders expect the average central bank rate to be one percentage point higher in a year, the steepest projected pace of tightening since January 2010, according to Bloomberg calculations.( Fie pic shows US Fed building in Washington)

HONG KONG: Investors are betting on the fastest pace of interest-rate hikes since 2010 across the world’s biggest developed markets, pressuring policy makers who want to slow inflation without crash landing their economies.

That’s the backdrop to this week’s meetings of central bank chiefs and finance ministers from the Group of 20 nations, who hold virtual and in-person discussions in Jakarta today and tomorrow, their first gathering of the year.