Last week, five of the world’s major central banks made news. The Bank of Japan (BOJ) and the Swiss National Bank (SNB) announced important changes to monetary policy, and officials at the U.S. Federal Reserve, the European Central Bank (ECB), and the Bank of England (BOE) dropped meaningful hints about the likely road ahead for interest rates. Taken together, these moves and signals offer insights into future monetary policy and in particular, the challenges the Fed, the BOE, and the ECB may face in execution and communication as they begin to cut policy rates with inflation in their countries projected to be ... (full story)