Over the last month, central banks have made some sizeable moves as we enter the next stage of this interest rate cycle. At one end of the scale, you have the Bank of Japan raising interest rates for the first time in 17 years and escaping a years-long deflationary cycle. On the other hand, the Swiss National Bank became the first developed market central bank to cut interest rates - in a decision that caught the markets off guard. Then, there's the Reserve Bank of Australia. Just one rate cut is priced into markets locally this year - with the timing split between the third and fourth quarter of this year. But does ... (full story)