Global central bank policy pivot will be broad but not sharp, says Fitch

<ul><li>Nearly all 'Fitch 20' economies will see central banks cut interest rates in 2024</li><li>The policy pivot will be widespread but not steep</li><li>Rates at the end of this year will still remain far above pre-pandemic levels</li><li>Expects no further rate hikes by the Fed, ECB, or BOE moving forward</li><li>Sees 75 bps rate cut by major central banks by year-end</li></ul><p>This isn't anything surprising but implicitly, they are saying that markets are pricing in too many rate cuts for the time being. The full report can be found <a href="https://www.fitchratings.com/research/sovereigns/economics-dashboard-global-policy-interest-rate-pivot-will-be-broad-not-sharp-19-01-2024" target="_blank" rel="nofollow">here</a> (may be gated).</p>

This article was written by Justin Low at www.forexlive.com.