G7 central banks face pivotal rate-hike week as inflation and oil above $100 keep pressure on

The US Federal Reserve, Bank of England, and Bank of Japan all face interest rate decisions in the week of September 16, amid mounting inflation pressure and oil prices emphatically above US$100 a barrel. A higher-than-expected US core inflation reading on September 11 stoked investor bets that Fed chairman Kevin Warsh will raise rates, likely defying President Trump's wishes. Japan's central bank is also widely predicted to hike, potentially to 1.25 per cent — the highest since 1995 — after the country recorded its biggest jump in wages in nearly three decades.