Business calendar: central bank bonanza

STORY: Here’s what to watch in the week to May 6

The Federal Reserve stars in a huge week for central banks

On Wednesday we’ll find out just how hard it’s going to fight inflation

Policymakers have flagged a half-percentage-point rate hike

Investors bet on much more over the year

A day later, the Bank of England is tipped to raise rates for the fourth time in a row

It hasn’t done that since 1997

The bank wants to curb inflation, but not spark a recession

Markets will also watch to see if bond buying turns into bond selling

Currency traders will keep an eye on what it all means for the dollar

It’s been soaring against the euro, yen and other currencies

That means more costly imports, and more inflation, in those countries

Some remember 1994, when similar factors drove emerging market crises

There’s a rate decision in Australia too

With inflation at 20-year highs, some bet on hikes there as well

That could be bad news for Prime Minister Scott Morrison

He faces a tough election, with the cost of living the top issue

And will Moscow up the ante on gas supplies?

It’s already cut off Poland and Bulgaria after they wouldn’t pay in roubles

Now the focus is on Germany, which looks vulnerable

It depends on Russia for around a third of its gas

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