Europe and the UK are also expected to slow down the pace of interest rates

Following yesterday's meeting where the Fed slowed down its tightening pace, the European Central Bank (ECB) and the Bank of England (BOE) are also expected to slow down their rate hikes in their meetings today. The ECB is expected to announce a plan on how it will reduce its bond stock of approximately 5 trillion euros. Following yesterday's Fed rate decision, global markets are focused on the decision to come from the European Central Bank and the Bank of England today. Both banks are expected to slow down their rate hikes. In addition to interest rates, how the ECB will reduce its bond and stock stock within the scope of quantitative tightening will be monitored. Lagarde is expected to set forth basic principles on this issue. Some members have signaled that instead of selling bonds, they may gradually reduce their balance sheets by not rolling over bonds that are due. According to a Bloomberg survey, the bank, which has made consecutive interest rate hikes of 75 basis points, is expected to raise its deposit rate by 50 basis points to 2 percent this time. ECB members will also announce their economic projections. Inflation in Europe slowed for the first time in 1.5 years last month, but remained in double digits. The ECB's interest rate decision will be announced at 16:15 Turkish time. Similarly, the pace of interest rate increases is expected to slow down at the Bank of England meeting today. The expectation is for the policy rate to be increased by 50 basis points to 3.5 percent. Yesterday, the Fed's interest rate decision, which global markets have been eagerly awaiting, was announced, and the bank increased interest by 50 basis points after four 75 basis point increases.