Weekly Market Recap – September 14, 2026

Last week, the European Central Bank (ECB) hiked interest rates by 25bps. The rate hike was unanimous amongst the ECB’s Governing Council and was widely expected by markets, with all eyes now focused on whether they will deliver another rate hike in either of their two remaining meetings this year. Meanwhile, both the Fed and the Bank of Japan (BoJ) are scheduled to meet this week. While markets had expected that the BoJ would hike rates by 25bps, there wasn’t as much certainty in the Fed’s next move until Friday’s CPI print showed hotter than expected core inflation. Markets are now pricing in a nearly 90% probability of a Fed rate hike on Wednesday.