major central banks around the world are now expected to end up hiking interest rates to higher levels than previously thought and many should take longer to get there all because of january’s blockbuster us jobs report   the feb 3 report which showed a surprising 517000 jobs gained last month did more than just move the needle in the us where investors and traders have since fallen in line with federal reserve policy makers on the need for 5plus rates this year the jobs data also led traders to boost their expectations for what’s known as the expected “terminal” or peak rate for the countries and regions that make up the groupof10 currencies according to deutsche bank macro strategist alan ruskin  in the us the expected peak terminal rate envisioned by markets jumped to 534 as of wednesday up from around 49 on feb 2 the day before the jobs report came out that jump has been matched or exceeded by three other central banks the riksbank of sweden norges bank in norway and the reserve bank of australia ruskin said in addition he said the expected timing for when many of the banks are likely to hit those peaks has been moved out by at least one more policy meeting relative to what was expected before the jobs report   “january’s job report was the main trigger” ruskin said via phone thursday “we started 2023 with a strong bias toward the idea that peak rates and peak inflation were in sight it took a surprise of that order of magnitude to really upend what were wellentrenched views”   in a chart released on wednesday ruskin pointed out that the fed is seen as reaching its peak rate in july versus the prior expectation of june meanwhile the european central bank is seen as hitting its 369 peak in october or three months later than previously thought the previous expectation was for a peak of 34 see the bond market’s worstcase scenario isn’t a fed rate of 6 it’s this  minutes of the fed’s most recent meeting released wednesday afternoon affirmed that all us policy makers wanted to keep hiking rates the number of firsttime jobless claims fell by 3000 to 192000 in the week ending feb 18 the labor department said thursday morning that’s the sixth straight week below 200000 which is a signal of a strong labor market all three major us stock indexes spx djia comp were lower in afternoon trading while treasury yields held steady  the 517000 new jobs created in january were more than twice the 187000 that had been expected by economists polled by the wall street journal in addition the unemployment rate slid to a more than halfcentury low of 34 from 35 “that nonfarm payroll report really shook markets and triggered a reset on expectations of what was going to happen with inflation” said edward moya senior market analyst for the americas at oanda corp “it poured cold water on all the momentum we thought we would see disinflation trends that seemed to be firmly in place wage pressures that would ease and economies that would weaken the report paved the way for more rate hikes abroad we’re going to see that inflation can’t come all the way down until the labor market breaks —and clearly that’s not happening”