<p>The market got it wrong.</p><p><br></p><p>After months of expecting easier policy, central banks have just delivered a major reality check. The Federal Reserve is no longer forecasting cuts, the Bank of England is turning more hawkish, and the European Central Bank could move sooner than anyone expected.</p><p><br></p><p>Behind it all is a new inflation threat building beneath the surface. Energy prices are rising fast, and if they stay elevated, the consequences could ripple through food, wages, and the broader economy.</p><p><br></p><p>This episode breaks down the chain reaction now unfolding across global markets, why bond yields are surging, and how a temporary shock could become something much more persistent.</p><p><br></p><p>The big question is no longer when rates will fall but whether they’re about to rise again.</p><p><br></p><p>(00:00) Rate Cuts Shock</p><p>(02:14) Fed Turns Hawkish</p><p>(08:30) Iran, Oil &amp; Inflation</p><p>(15:46) Market Reaction</p><p>(19:59) Gold Drop Explained</p><p>(26:13) Bank of England Shift</p><p>(30:00) UK Energy Risk</p><p>(37:06) ECB Pivot</p><p>(38:27) Inflation Feedback Loop</p><p>(43:50) Iran Impact on Food &amp; Energy</p><p><br></p><p>*****</p><p><br></p><p>Join our next free <a href="https://auth.amplifyme.com/realms/amplifyme/protocol/openid-connect/auth?client_id=pathways-accelerators-web&redirect_uri=https%3A%2F%2Fapp.amplifyme.com%2Fpathways%2Fmarkets&response_type=code&scope=openid&pathway=markets" target="_blank" rel="noopener noreferer">Markets Accelerator Simulation</a> </p><p>Subscribe to the daily <a href="https://amplifyme.com/newsletter" target="_blank" rel="noopener noreferer">Market Maker newsletter</a></p>