The Fed wasn’t as hawkish as we had expected this week and, assuming the recent upturn in core inflation proves temporary, there is still a good chance that interest rate cuts will begin in June.

The surprise fall in February leaves CPI inflation on track to average 2.8% this quarter, well below the Bank of Canada’s forecast of 3.2%. As the decline in inflation pressures was broad-based, there...

Christine Lagarde’s comments this week suggest that a first ECB rate cut in June remains most likely but there is a significant risk that the easing cycle will start later. Meanwhile, surveys released...

GDP growth will come in below consensus in most EMs this year, with the notable exceptions of India and Taiwan. Although stubborn wage growth means the pace of disinflation is likely to slow from here...