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
