The Fed’s March meeting will be important for markets. There is a clear risk that the Fed signals fewer rate cuts than they did in December which could harm sentiment and support the USD. BoJ is at the onset of raising rates after high wage growth. The FOMC March meeting will dominate the calendar on Wednesday next week with new economic projections due to be published. We expect no changes to the Fed Funds rate or QT at this meeting. However, the Fed will likely need to revise their growth and inflation projections higher for 2024. This could lead to a median FOMC dot plot that shows only two rate cuts this year ... (full story)