Central banks will be forced into a dramatic “back pedal” and will be considering cutting rates within 12 months just as markets expect policy rates to peak.
That is the view of Macquarie’s global head of strategy, Viktor Shvets, who is of the view a slowing global economy and a winding back of government spending will mean the inflationary forces will subside and economies will need support.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
