In this episode, Paul is joined by Jon Butcher, Felix Feather and Sree Kochugovindan from the Global Macro Research team to discuss this shift back towards monetary tightening.
In the wake of major decisions from the US Federal Reserve (Fed), Bank of England (BoE), European Central Bank (ECB) and Bank of Japan (BOJ), they discuss whether policymakers are delivering a small number of ‘risk management’ rate hikes, or embarking on a sustained cycle of raising borrowing costs.
The team examine the economic forces driving these rate hikes, including high energy prices, stronger growth, and rising estimates of ‘neutral’ interest rates. The team also considers the growing influence of politics on central banking.
Listen to the full discussion on the latest episode of Macro Bytes.
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