LONDON—As inflationary pressures mount worldwide, money markets are charging ahead with pricing aggressive interest rate rises, in most cases betting that policy will be tightened far sooner and at a much faster pace than rate-setters are signalling.
Energy prices at multi-year highs and relentless supply chain snarls have raised fears of a future inflation spike, while Norway and New Zealand have become the first developed countries to lift rates as economies recover from the COVID-19 crisis.
