Different outlook

Western central banks are planning differently for 2024

Last week saw the major central banks of the Western world essentially indicate that they were on different paths with regard to monetary policy. Neither the United States Federal Reserve (Fed), nor the European Central Bank (ECB), nor the Bank of England changed interest rates. But they nevertheless have very different views of their actions and the economy. The big news was that the US Fed announced a pivot, reversing a series of interest-rate increases that had been the steepest in decades. The markets galloped in response, and some worried that they were building in a possible interest-rate cut as