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Fed’s Predicted Hike Kicks Off Rate Decision Marathon

European central banks seen following Fed's lead and pushing rates higher from next year

The U.S. Federal Reserve is predicted to raise its benchmark interest rate by a quarter of a percentage point on Wednesday, kicking off a central bank marathon that includes the European Central Bank and the Bank of England. While the latter two -- together with the Swiss National Bank and the Norges Bank -- are expected to keep rates unchanged on Thursday, Wall Street economists are telling investors to brace for the biggest tightening of monetary policy in more than a decade next year.

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