2023 Top 500 ranking: 8
The improvement of global economic conditions will allow the Fed and the ECB to reduce the degree of monetary accommodation, each with its own scale: continuation of the fed funds rate hike cycle for the Fed and reduction of asset purchases for the ECB.
True, underlying inflation measures remain weak on both sides of the Atlantic but the evolution – even timid – of wages and the dissipation of temporary factors should reassure the two central banks : inflation will return to their targets.
Macroeconomic forecasts as of 12 April 2024
”The BoJ does not have the right conditions to hike in 2024 or 2025.”
”Market sentiment may remain positive if we don’t see an economic slowdown and inflation also doesn’t surprise. However, areas of excess have built up, and underscore the need to remain vigilant.”
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