Home Blog Market Analysis Weekly Market Analysis / 12 September- 16 September 2022

Weekly Market Analysis / 12 September- 16 September 2022

by Buse Kozok
Weekly Market Analysis /  12 September- 16 September 2022

Last week, we followed the European Central Bank (ECB) interest rate decision and the speech of the US Federal Reserve (Fed) Powell in global markets. At its meeting held on Thursday, the European Central Bank (ECB) decided to raise interest rates by 75 basis points for the first time in its history, increasing the main refinancing rate by 1.25%, marginal lending facility by 1.50% and deposit rate by 0.75%. ECB President Lagarde, in the press conference he held after the decision, stated that they could probably increase the interest rates in more than two meetings, while basic inflation inputs are on the rise and price pressures are spreading to more and more sectors. Fed Chairman Powell said that they will continue the strategy they have followed and will continue in the same way without hesitation to control inflation. While oil prices fell as the rising recession concerns negatively affected the demand outlook, Brent oil's barrel fell below $90 for the first time since February, falling to $87.24. While increasing concerns after the Russian gas company Gazprom stopped the natural gas flow to Europe at the beginning of the week and Powell's hawk statements negatively affected the risk appetite, a mixed course was observed in the global markets throughout the week

Related Posts