Finance & Economy | News & Insights

Global Economy Update

Published: July 10, 2024
Author: TEXTILE VALUE CHAIN

Key highlights:

  • Advanced economies moved towards rate cuts in June.
  • BoC was the first G7 central bank to cut its policy rate.
  • ECB reduced rates by 25bps; market expects further cuts in September and December.
  • SNB delivered a second consecutive rate cut.
  • Fed, BoE, RBA and BoJ kept policy rates unchanged in June.
  • Fed is likely to begin rate cuts in September, while BoE may cut in August.
  • RBA is not expected to cut its policy rate in 2024 amidst inflationary pressures.
  • BoJ is likely to hike its policy rate in July following a March hike.

Global_Economy_Update_-_June_2024

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