What do the results of the December meetings of the world's key central banks tell investors?

The world's largest central banks simultaneously raised rates at their December meetings. This decision is predictable, but it should not be underestimated. What signals does it give investors, says Mikhail Khanov,

In mid-December, a series of scheduled meetings of a number of the world's largest central banks took place. The ECB and the Bank of England unanimously increased their interest rates by 0.5% the next day after a similar decision by the US Federal Reserve .

Such a coordinated policy did not come as a surprise to the financial markets. Issuers quite logically strive to maintain the relative balance of the key reserve currencies that has developed earlier. The Bank of Russia quite expectedly left the key rate unchanged at 7.5%. This makes it clear that the Russian mega-regulator takes into account the complex realities of the domestic economy and pursues an independent monetary policy.

Despite the predictability of the results of the meetings of the world's central banks, their significance should not be underestimated. A significant increase in interest rates of the three most important world reserve currencies cannot but affect the financial markets and economies of the most developed regions of the world.

In addition, investors and speculators traditionally pay great attention to hints about future monetary policy. They are very important because markets live by expectations.

The Fed continues to set the tone for monetary policy in the EU and the UK