Major central banks strike a more hawkish tone as energy costs jump

Major central banks are adopting a more hawkish stance as energy costs rise and economic growth remains resilient, increasing the risk of additional rate hikes. The European Central Bank raised rates by 25 basis points on Thursday and signaled a firmer tone tied to higher energy prices. Next week, markets will watch U.S. and Japanese central bank meetings for potential tightening. The report surveys Group of 10 economies, ranking policy rates from highest to lowest: Australia at 4.35%, Norway at 4.25%, Britain at 3.75%, the U.S. facing its Federal Reserve meeting next week, New Zealand at 2.75%, and the euro zone following the ECB move. It also notes Canada held rates but warned it could raise if inflation stays elevated.