The Fed delivered a widely expected 25bp rate hike, putting inflation firmly ahead of political pressure for lower interest rates. The decision triggered a hawkish market reaction, with short-term Treasury yields jumping, while the longer end and US equities showed a more contained response. Attention now turns to the Bank of England and Bank of Japan. The BoE faces an increasingly uncomfortable mix of persistent inflation, higher energy costs, fiscal concerns and a weakening labour market, making the path ahead particularly complicated. Meanwhile, the BoJ is expected to raise rates as policymakers try to contain renewed pressure on the yen. But today’s decisions are only part of the story. The bigger question for markets is how far these central banks are prepared to tighten, how quickly they will move, and what higher rates could mean for bonds, currencies and equities over the coming months. Watch the full episode to find out more! 0:00 Intro 0:44 Fed hikes 3:22 BoE to stay pat 7:33 BoJ to hike, too! Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020, and launched her own website ipekScope.com in 2025. #FederalReserve #Fed #KevinWarsh #InterestRates #Inflation #BoE #BankOfEngland #BoJ #BankOfJapan #USDJPY #GBPUSD #TreasuryYields #BondMarket #Oil #WTI #CentralBanks #MonetaryPolicy #Markets #Swissquote #MarketTalk _____ 👉 Discover our brand and philosophy: https://www.swissquote.com/en/group _____ 👉 Deepen your trading and investing knowledge with Swissquote Inspire: explore our articles, analyses, webinars and exclusive content: https://www.swissquote.com/private/inspire _____ 👉 Discover Swissquote’s culture and join a company that values innovation, diversity and team spirit: https://www.swissquote.com/en/careers