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UBS On-Air: Paul Donovan Daily Audio 'Following inflation lower'
Published 1 year, 6 months ago
Description
Yesterday’s central bank decisions support the trend of following inflation lower. The Swiss rate cut reflected a desire to stabilize real rates, not stimulate the economy. Bank of England Governor Bailey linked future rate cuts to lower inflation; an August rate cut looks increasingly likely. Only the Federal Reserve seems to have forgotten that rising real rates are repressive.