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Fed Pivot Will Dominate Year of Rate Cuts in Turn of Global Cycle
The coming 12 months are shaping up as the year of the interest-rate cut. After racing ahead with the most aggressive tightening campaign in decades during 2022 and 2023, central banks around the world are poised to begin easing monetary policy as inflation continues to retreat. The shift is captured by Bloomberg Economics, whose aggregate gauge of rates across the world shows a decline of 128 basis points over the year, mostly led by emerging economies. Among such central banks, those in Brazil, the Czech Republic and others have already started that process. The US Federal Reserve will lead the pivot for richer ... (full story)