Interest rate cuts appear to be the key macroeconomic theme of 2024. But, how big?
The answer is: potentially very big. Capital Economics forecasts that the 20 main central banks will cut policy rates the most since the financial crisis as inflation eases sharply.
The central banks will cut a cumulative total of about 35 percentage points this year, the largest annual figure since 2009, according to the consultancy’s estimates. The number of interest rate cuts will also be the highest in 15 years — although this figure is based on the change in policy rates between quarters and could miss multiple rate cuts within the quarter.
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