Despite all the talk of “higher for longer”, we believe that the global monetary policy tightening cycle is drawing to a close. In Q4, any final rate hikes in advanced economies will coincide with a number of cuts in emerging markets. And as we head into 2024, the loosening cycle will take hold. By this time next year, we anticipate that 21 out of the world’s 30 major central banks will be cutting interest rates.
We’ll be discussing September’s Fed, ECB and Bank of England policy decisions in a Drop-In at 3pm BST today, Thursday 21st September. (Register here.)
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