Major advanced economy central banks are likely to take back less than half of the interest-rate hikes they rammed through over the past two years — an outlook reshaped significantly by US outperformance.
After the Federal Reserve, European Central Bank and Bank of England jacked up their benchmarks by a collective 1,475 basis points, only 575 basis points of reductions are in store by the end of 2025, according to new Bloomberg Economics estimates.