Central banks deliver an early Christmas present
by AIB Treasury Economic Research Unit
- With a flurry of central bank meetings occurring in the two weeks before the Christmas break, the majority have been opting for further rate cuts.
- Elsewhere, a bumper 50 bps cuts by the Swiss National Bank was targeted at both weak inflation and a strong Franc that risks undermining Swiss exports.
- Ahead of the final central bank meetings from the Fed, BoJ and BoE, the aforementioned decisions over recent days have left markets broadly unchanged, with much of the policy moves already priced in ahead of the announcements.
- Turning to the week ahead, the main central bank focus will be on the final US Federal Reserve FOMC meeting of the year.
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