Japan’s Finance Minister Signals Alignment With BOJ as Rate Hike Speculation Grows 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
ECB Signals Steady Rates Ahead as Policymakers Warn of Inflation Risks 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
The selloffs in the bond market around the world that began after Republican candidate Donald Trump won the US election in the fear of tighter monetary policies and higher inflation likely to exacerbate after both OPEC and N-OPEC countries secured a deal to cut production by more than 1.75 million barrels per day. The oil price has jumped 20 percent since the deal was announced on November 30th. Over the weekend N-OPEC producers have promised a cut of 558,000 barrels of oil per day and oil price is up almost 5 percent today.
The increase in oil price is likely to boost inflation expectations around the world and will also push actual inflation higher. US 10-year breakeven inflation has reached 1.96 percent, the highest level since October 2014. 5-year,5-year forward inflation expectation curve has reached 2.08 percent, the highest level since July last year. Inflation is still at a low level compared to history; however, the trend is clear. The actual inflation in the Euro area has reached the highest level in 31 months. According to the latest survey, the consumer inflation expectation has reached 2.8 percent, the highest since July 2014.
Today, 10-year US treasury yield has jumped above 2.5 percent, for the first time since 2014.
