(Reuters) - Outflows from global equity funds ramped up in the week to Sept. 29 on expectations that major central banks would lift interest rates soon amid concerns that inflation could persist for longer. According to data from Lipper, investors sold a net $1.21 billion in global equity funds in the week, compared with net selling of $174 million in the previous week. Fund flows into global equities bonds and money markets: U.S. Federal Reserve policymakers indicated last week that they are ready to raise rates in 2022 and that the bank is likely to begin reducing its monthly bond purchases as soon as next month. The central bank expected inflation at 4.2% this year, more than double its 2% target rate. U.S. equity funds faced net selling of $6.24 billion, however Asian and European equities drew net purchases of $3.25 billion and $0.15 billion respectively. Global fund flows into equity sectors: Global bond funds saw net inflows for the 10th week in a row, although purchases fell 22% compared with the previous week. Global short and medium term bond funds lured a net $2.64 billion, the biggest amount in four weeks, while inflation-protected funds attracted about $1 billion, a three-week high, though government bond funds faced small outflows of $26 million. Global bond funds" flows in the week ended Sep 29: Investors sold global money market funds to the tune of a net $22.1 billion, compared with $30.3 billion in net purchases in the previous week. Among commodity funds, energy funds saw their first net inflow in seven weeks at $25 million, while precious metals funds faced outflows of a net $931 million. An analysis of 23,682 emerging market funds showed investors sold a net $2.84 billion in bond funds and $2.46 billion in equity funds, the second week of net selling in each segment. Fund flows into EM equities and bonds: