Last week saw 3 big central bank meetings, which served to reiterate the varying fortunes of the US, Europe and Japan since the crisis.
Relative to our expectations, it was the FED that caused us to pause for thought. After a dovish set of minutes to the previous meeting, the statement and projections were clearly hawkish. We think the difference lies in the time horizon; whilst 2018 could indeed see 2 further hikes, we think the pace of change will slow in 2019.DOWNLOAD THE FULL ARTICLE View All Global Market Updates
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