1. Fed commences rate hikes as many central banks follow suit
In what is seen as some of the most aggressive global tightening in decades, many central banks have jumped on board in what has quickly become the largest and fastest tightening of global monetary policy in decades. The last global cycle was shortly before the 2008 financial crisis, but this time it starts with economies already at full capacity and inflation way above target -- setting up the prospect of the most rapid global rate hike cycle since the 1990s, said Dario Perkins, an economist at TS Lombard in London. “Australia is expected to scrap its bond buying program next Tuesday and could lift rates as early as May,” Bloomberg reports.

2. Triple-vaxxed the new double-vaxxed?
As Australia still grapples with coronavirus cases primarily in populous states of NSW, Victoria and Queensland, and the reality of further variants in the future, the federal cabinet discussed in a recent meeting whether it will they change the status of fully vaccinated citizens to those who have received their booster shot. It is awaiting final advice from the Australian Technical Advisory Group on Immunisation. Victorian Premier Daniel Andrews is among the state leaders pushing for the tougher three-dose standard. “I think this is where we’re heading,” he said just before national cabinet met. “If you are vaccinated, particularly if you’ve got three doses, you’ve got the greatest protection that you can possibly have against being critically ill if you get this wildly infectious omicron variant. “This is not two plus a bonus, it’s three.” Mr Andrew said three doses would be required to get access to some venues and events “very soon”.

3. Ash Barty waltzes into Aus Open final
Ash Barty has earnt her ticket into the 2022 Australian Open women’s final after sinking her unseeded opponent Madison Keys 6-1, 6-3 last night. Barty is the first Australian woman to reach the singles final of her home Grand Slam tournament since Wendy Turnbull in 1980. No Australian has won the title since Chris O’Neil in 1978. “It’s unreal. Honestly, it’s just incredible,” Barty said in her on-court TV interview. “I love coming out here and playing in Australia. “As an Aussie, we’re exceptionally spoiled we get to play in our own backyard. Now we have a chance to play for a title. It’s unreal.”

4. Kremlin fires back at US security letter
The Kremlin has given its response to US security proposals that were hand-delivered to Moscow on Wednesday. Russia has repeatedly denied it is planning to invade Ukraine despite multiple reports that it has amassed close to 100,000 troops and military hardware at various points along its border with Ukraine. Despite confirmation that Russian Vladimir has read the documents, “it cannot be said that our views were taken into account, or that a readiness to take our concerns into account was demonstrated,” Kremlin spokesman Dmitry Peskov told reporters on Thursday, Reuters reported.

5. ASX to rebound, Tesla dump prevents Wall St rally
Australian shares, which fell into correction on Thursday, are set to soar when trading begins on Friday. Both gold and oil were lower. US Treasury yields retraced the previous session’s leap. ASX futures were up 124 points or 1.9% to 6833 near 6.45am AEDT; they surged as much as 197 points earlier. The S&P/ASX 200 dropped 1.8%, or 123.3 points, to close at 6838.3 points and officially entered correction territory on Thursday. On Wall St: Dow -0.2%, S&P 500 -0.3%, Nasdaq -1.2%, Tesla -9.5%.