In response to persistent inflation, officials in the US and EU are maintaining their tightening measures. This strategy is expected to further diverge global monetary policy in the upcoming months. According to Bloomberg Economics’ gauge of worldwide borrowing, the current quarter may reach a peak of 6.25%, an increase from a previously predicted 6%. Nevertheless, this aggregate figure conceals a less synchronized scenario: while China is easing its policy, other central banks are holding firm. The Fed’s minutes from its June meeting could offer further insight into the possible trajectory of future rate hikes.