FxWirePro: Daily Commodity Tracker - 21st March, 2022 
BOJ Raises Interest Rates to 31-Year High, Signals Strong Focus on Inflation Risks 
Indonesia Passes New Central Bank Law, Raising Investor Concerns Over Policy Independence 
Taiwan Central Bank Likely to Keep Interest Rates Unchanged Through 2027 
Goldman Sachs Sees Fed Holding Interest Rates Steady Until 2027 
RBI Holds Interest Rates at 5.25%, Cuts India Growth Forecast Amid Rising Global Risks 
Speaking at an event with the University students in Norman Oklahoma, Dallas Fed president Robert Kaplan said that the Fed should increase interest rates sooner than later in the near future so that the central bank doesn’t fall behind the curve. These comments, however, doesn’t change our FOMC dashboard since Mr. Kaplan was already been considered as the hawkish member. The latest FOMC board looks like,
Doves – Lael Brainard, William Dudley, and Neel Kashkari.
Hawks – Janet Yellen, Charles Evans, Patrick Harker, Stanley Fischer, and Robert Kaplan
Unknown – Jerome Powell
Pls. note that one of the dovish members, Daniel Tarrullo has resigned and the position is yet to be filled.
However, the wordings surely changed the market outlook on rate increases from the Fed. The Federal funds rate future is currently predicting 31 percent probability of a hike in the March meeting, up from 26 percent a day before and 23 percent two days ago.
