Wait, the central banks did what was expected for once

Friday Briefing

Over the last nine days, we saw a triple ‘hold’ from the Federal Reserve, Bank of England and European Central Bank, as all three opted to keep interest rates steady at their latest monetary policy meetings.

This means rates are now at 5.25%-5.5%, 5.25% and 4%, respectively, an outcome largely expected by markets. In his ‘what to expect' analysis, Elliot Gulliver-Needham found that markets had priced in a 97.2% chance that the Fed would continue to pause its rate hikes, a bullishness carried across the other central bank forecasts. Hipgnosis continuation votes don't lie (feat. Wyclef Jean) It feels like it has been a while since the actions of the banks aligned so strongly with forecasts from economists, and most now expect rates to be maintained at the current levels until next year, ...