The most important outcome of the last week's flurry of central bank meetings was the median forecast of Fed officials for 50 bp less in cuts next year than it had anticipated in June as it revised up its growth forecasts for this year and next. The prospect for higher rates for pushed equities lower. Sterling and the Swiss franc were the weakest currencies in the G10 last week, falling by a little more than 1.1%. Both central banks did not hike rates to the surprise of many. Norway more than Sweden held out the possibility of another hike in Q4, while the Riksbank's decision hedge a quarter of its reserves, which ... (full story)