WS #16281
Monetary policy is tightening globally as central banks grapple with sticky inflation exacerbated by the energy shock. The Philippines Central Bank delivered a surprise 50 basis point rate hike, while the Reserve Bank of India is divided on further increases as inflation approaches its tolerance band. In the UK, the Bank of England's November decision is clouded by energy price volatility. This macro backdrop is pressuring growth assets and driving institutional flows into defensive havens like gold, as seen with Daiichi Life's pivot to precious metals.
Global Rate Hikes and Inflation
Monetary policy is tightening globally as central banks grapple with sticky inflation exacerbated by the energy shock. The Philippines Central Bank delivered a surprise 50 basis point rate hike, while the Reserve Bank of India is divided on further increases as inflation approaches its tolerance band. In the UK, the Bank of England's November decision is clouded by energy price volatility. This macro backdrop is pressuring growth assets and driving institutional flows into defensive havens like gold, as seen with Daiichi Life's pivot to precious metals.