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Macro & Markets: A peek at the peak
While some central banks are still hiking rates and others are not, most are probably at least near peak rates. Market pricing has moved clearly also longer out, and rates are expected to remain higher for longer. “And as I said, both elements matter, the level sufficiently restrictive and the duration. But it's obvious that the focus is probably going to move a bit more to the duration. But we can't say that now we are at that peak.” – Christine Lagarde, President of the ECB on 14 September 2023. Even though Christine Lagarde explicitly said that the ECB cannot say rates are now at the peak, the statement was ... (full story)