A Global Hawkish Turn Has Yet To Become A Dramatic One

Authored by Simon White, Bloomberg macro strategist,

On the week the Federal Reserve is expected to cut interest rates, some other central banks are tilting more hawkish. However, the thrust of global monetary policy is still dovish, which will be supportive for risk assets for now.

It’s been a while since any major EM or DM central bank has cut rates. But there is a discernible shift in the mood music.