Central bankers have sat on their hands for another month, sending the prices of stocks and bonds soaring. While interest rates seem to have peaked, the full effects of previous increases are yet to be felt by households and businesses.

There’s a veritable sea of moving parts out there in the global economy, which are keeping investors on edge. The big question is, how will they influence central bankers?

The US House of Representatives is struggling to agree on a new Speaker as the US ticks toward a shutdown of government. Strangely, stocks seem more perturbed by strong economic growth.

Big banks are reporting strong profits so far this quarter, but how will the rest of the market fare? And is higher-than-usual inflation making people glum?

This week has seen harrowing atrocities committed by the terrorist group Hamas against Israeli civilians. With so far more than 1,200 people reported to have been killed, this is the most serious cross-border attack Israel has faced in decades.

Central bankers in the US and UK decided interest rates shouldn’t go higher in September; bond investors disagreed.

Last week’s round of central bank meetings sent a mainly consistent message. Most held interest rates on hold and suggested rates are now at (or very near) their peaks.

Will the big central banks making significant interest rate announcements this week follow the ECB’s lead and signal that rates have now peaked? And where might rates settle longer term?

Like virtually everything else, the cost of energy is much higher than it used to be. Combined with higher interest rates, it should keep squeezing economic growth in the coming months.

Hopes for a quiet summer were dashed by difficult-to-read economic data, swinging bond yields and holiday dramas.

Rather than a slow fade, the American economy produced a surprise surge. Yet with inflation within touching distance of the 2% target, US interest rates may still peak soon.

Interest rate hikes for the US and Europe are almost certain this week. All major central banks are getting close to calling time on rate increases, but the UK is likely to be the last to do so.