Weekly Market Recap (25-29 March)
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The article provides a summary of the main developments in the market during the week of 25-29 March. The key points include:
- Fed's Bostic changed his view and now expects one rate cut this year instead of two, citing the economy's resilience and increased GDP growth estimate.
- ECB's Panetta and Lane reiterated the consensus for a rate cut in June and the focus on wage growth.
- Fed's Goolsbee expects three rate cuts this year but wants to see more progress on inflation.
- BoE's Mann moved away from rate hikes but cautioned against aggressive market pricing.
- BoJ's Tamura and Ueda discussed the current monetary policy and the need for caution.
- SNB's Jordan explained the rationale for their rate cut.
- Fed's Waller delivered a slightly more hawkish stance but kept the door open for a rate cut.
- BoJ released the Summary of Opinions of its March Monetary Policy Meeting.
- US GDP, jobless claims, and PCE data were released.
- Tokyo CPI, unemployment rate, industrial production, and retail sales data were released.
- BoE's Haskel explained his vote change and emphasized the importance of persistence in underlying inflation.
- Canadian GDP data and US jobless claims were released.
- ECB's Villeroy talked about making an insurance cut to avoid a hard landing.
- The article also provides a preview of upcoming economic data releases.
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https://www.forexlive.com/news/weekly-market-recap-25-29-march-20240329/