Great Expectations
by AIB Treasury Economic Research Unit
- Markets have been on fire since late October, with equities marching higher and bond yields tumbling, as investors bet on rapid rate cuts in 2024.
- The catalyst for the rate cut fever has been far bigger falls in inflation in recent months than had been expected by central banks and markets.
- Overall, inflation looks set to return to its 2% target more quickly than central banks have been projecting.
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