Central Banks Hint at Rate Cuts Amidst a Surge in Dovish Sentiment👀
A quiet 24 hours in markets with risk-sentiment still largely buoyed, with the BoE's chief economist latest to signal a potential dovish pivot signaling that mid-2024 might be time for rate cuts (Pill said pricing for aa first rate in August 2024 - "doesn't seem totally unreasonable, at least to me... It is at that point you might consider or reassess, if nothing new has happened, where we are going to have to be"). The RBA also executed their own version of a 'dovish hike' by releasing an accompanying statement on "whether further tightening of monetary policy is required", kicking off an antipodean and european rates rally early in the morning.
#DovishPivot #RBA #MonetaryPolicyTightening #InterestRateRally #MarketRiskSentiment