Global rate-cut juggernaut struggling to start
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Central banks in advanced economies are hesitant to join the global interest-rate cutting cycle. The Federal Reserve recently reduced projections for US monetary easing, and policymakers in the UK, Australia, and Norway are likely to signal that they are not convinced enough about disinflation to start lowering borrowing costs. June, originally expected to be a month of global rate cuts, is turning out to be a display of hesitancy. The Bank of England is expected to wait until at least August before cutting rates due to the upcoming election and lingering price pressures. Peers in Australia and Norway are also in no rush to cut rates. The Swiss National Bank may avoid a second reduction for now. Other central banks, such as Brazil and Paraguay, are expected to keep borrowing costs on hold, while Chile may slow rate cuts. US retail sales, Chinese data, and inflation numbers from the UK and Japan will be highlights for investors this week.

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