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Markets News - 21 September

Russia announces a partial military mobilisation and blames the west for its own failings in the invasion of Ukraine.

A 75bp move by the Fed is priced in at a meeting this evening. What may be of more interest is where it is forecasted to peak and where the market now sees rates by the end of 2022, 2023 and 2024, with rates thought to be peaking at around 4.5 percent in March 2023. Further details on an expected acceleration to the end of its pandemic-led bond purchases are also anticipated.

Ford fell more than 12 percent yesterday after it reported Q3 results. It warns inflation costs would be $1 billion more than previously expected.

Christine Lagarde states the ECB may need to lift interest rates to a level that restricts economic growth in an attempt to get inflation back under more control. This could lift rates above its long-term target of two percent.

The European Chamber of Commerce has warned that European industry was losing confidence in China, citing its "inflexible and inconsistent" pandemic policies as a major factor. Firms continue to work on possible required exit strategies if China was to make a move for Taiwan.

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