Fed pause likely to be of little relief for yields Just a few weeks ago the November FOMC meeting was seen as a live one, but expectations of a rate
Central bank meetings continue in earnest with BoJ, Fed and BoE. Fed and BoE to likely stand pat, but BoJ might tweak policy again. NFP report and Eurozone flash GDP and CPI data also in focus. hike have evaporated in the run up to Wednesday’s decision. The latest commentary from Fed officials has corroborated the markets’ view that the bar for further tightening is set quite high. However, as far as the Fed is concerned, it can be said that the bar for a rate cut has also been set very high.
When compared to the Fed or European Central Bank, investors see the BoE as being the least aggressive next year when it comes to projected rate cuts even as the economy flirts with a recession. Therefore, anything in the Bank’s forecasts that supports the higher for longer case might offer the pound some support.
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