Key Points
LONDON (Reuters) -Wall Street futures ticked up ahead of a raft of central bank meetings this week that could see the end of free money in Japan and a slower glide path for U.S. rate cuts...
The U.S. Federal Reserve is considered certain to keep rates at 5.25-5.5%, but there is a possibility it might signal a higher-for-longer outlook on policy, given the stickiness of inflation at both consumer and producer levels...
The probability of a U.S. rate cut as early as June has dropped to 56%, from 75% a week earlier, and the market has only 72 basis points of easing priced in for 2024 compared to more than 140 basis points a month ago...
A number of other central banks including in Japan, Britain, Switzerland, Norway, Australia, Indonesia, Taiwan, Turkey, Brazil, and Mexico also meet this week and, while many are expected to hold steady, there is plenty of scope for surprises...
However, there is a chance the Bank of Japan might wait for its April meeting, given it will be issuing updated economic forecasts then.. Regardless of how this weeks policy decision goes, UBS analysts expect no huge market moves after the result...
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