The Zhitong Finance App learned that soaring energy prices have reignited concerns about inflation, and the money market is shifting to more hawkish bets. The swap agreement shows that the ECB may raise interest rates four more times in the next 12 months, 25 basis points each time, while the Bank of England may raise interest rates five times. This is in stark contrast to recent cautious statements by the two major central banks. It also highlights the difficulty of predicting the duration of the Middle East conflict and its ripple effects on inflation.

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