Finance
Global Economy Update
Published on
Author: DISHA PRAFUL SUKHANI
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.