As I write this, markets are in a buoyant mood, with stocks moving ahead following news of another 90-day (what’s it with 90 days?) pause in the US-China tariff war.
This starkly contrasts with last week’s news, as the Fed and the BoE warned that the outlook for their respective economies is worsening.
However, the former seems in no hurry to cut rates, while the latter’s divided policy committee indicates that rate cuts may continue more slowly than expected.