Experts at the Japanese Nomura Group said it is expected that the U.S. Federal Reserve will raise the key interest rates to between 3.5% and 3.75% by next February 2023, before starting to cut interest rates again within the same year.

At the same time, the financial group estimated that the European Central Bank (ECB) will raise interest rates by 175 basis points by March of next year, then implement a cut of 25 basis points in June 2023.

In addition, the Japanese group predicted that the Bank of England will cut the interest rate twice next year, the first in May and the last in August, with the continuation of the British economy's recession.

Earlier, James Bullard, a member of the U.S. Federal Reserve in St. Louis, stated that the lessons learned from 1974 and 1983 are that when the Federal Reserve Board faces inflation levels similar to the current inflation levels, policymakers need to anticipate inflation.

Bullard added that anticipating inflation will keep it low and stable, which supports economic growth.