Institutions: Central banks in many countries may be entering a synchronized interest rate hike cycle.

CoinFeed reported on June 15th that, according to Jinshi, Krishna Bhimavarapu, Asia-Pacific economist at State Street Investment Management, stated that central banks worldwide may be entering a phase of synchronized interest rate hikes, supported by increased economic resilience and rising inflation. Bhimavarapu pointed out that the Bank of Japan seems prepared to raise interest rates to the psychologically key level of 1.0%, adding that the Bank of Japan may hint at a second rate hike this year. In contrast, the Reserve Bank of Australia appears poised to pause rate hikes, as both economic growth and labor market momentum have weakened. However, inflation remains unresolved, potentially leaving room for at least one more rate hike later this year. Furthermore, Bhimavarapu expects the Federal Reserve to potentially shift to a hawkish stance by the end of this week.