It won’t happen overnight, but it will happen

Friday 23rd February 2024

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Central bankers are being very elusive when it comes to the timeframe for cutting rates. The Fed’s John Williams said on Friday that he believes rates will come down this year, even though markets are expecting a move in June. The ECB’s Christine Lagarde says she wants more persistent evidence that inflationary pressures have dissipated, even though the German economy shank by 0.2 percent last year. And there’s the outside chance that he RBNZ will lift rates this week, although that seems unlikely. Meanwhile Australian CPI and retail sales this week will be waited for with anticipation by the RBA. So, when it comes to rate cuts, it won’t happen overnight, but it will happen. Trivia question: who said that?

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