Global markets expect some shift in monetary policies

Investors are closely watching some changes in monetary policies of major central banks amid the war in Ukraine and sanctions on Russia affecting their economies. The US Federal Reserve is widely expected to make a rate hike of 25 basis points to begin monetary tightening and could make at least another three interest rate increases before the year-end. Most analysts expect the Bank of England to make a third rate hike to tame rising inflation. The Bank of Japan is also anticipated to leave its interest rate unchanged at negative 0.1%. The Turkish central bank is also set to announce its monetary policy decision. Aside from the potential shift in major central banks' monetary policies, Russia's war on Ukraine continues to create fear and uncertainty for investors.