Global rate-cutting cycle is not “one size fits all”

While the global monetary policy loosening cycle is now well underway, there is more nuance than you might assume. Recent data have made us more confident that cuts (or further cuts) are to come in the US and Canada. But in Australia, the UK and large parts of Latin America and Central Europe, sticky inflation is set to delay or slow policy normalisation. And we now anticipate two interest rate hikes in Japan.

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