We’re still playing the central bank waiting game

From think.ing.com

Financial markets started the year expecting six rate cuts from each major central bank. But it didn't take long for more resilient US activity data, coupled with some unwelcome news on American inflation, for investors to begin rapidly scaling back those expectations. The sheer resilience of the US economic story has given the Federal Reserve the confidence to adopt a highly data-dependent approach to timing the first rate cut. Over in Europe, the strategy has been visibly different. Policymakers have made no secret of the fact that they are becoming more confident in their inflation predictions, in no small part ... (full story)