Bumper Fed rate cut supercharges central banks' easing cycle in September [Yahoo! Finance]
BNP PARIBAS SPONS ADR (BNPQY)
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Source: Yahoo! Finance
Five of the nine central banks overseeing the 10 most heavily traded currencies that held meetings in September lowered benchmarks. The Fed delivered a bumper 50 basis point (bps) rate cut to kickstart its easing cycle while Sweden, Switzerland, Canada and the euro area shaved off 25 bps. That was the biggest easing effort by this group of developed central banks since they cut a cumulative 615 bps in March 2020 to shore up economies engulfed in pandemic turmoil. Attention has now moved on to how deep and how long the rate cutting cycle across developed markets could be. "After the Fed cut by 50 basis points, what they communicated was important - saying we are on alert, we know what's going on, we see employment growth slowing and we're not asleep at the wheel," said Tatjana Greil Castro, global co-head of public markets at Muzinich & Co. "Unless there's an external shock, this is likely to be a shallower cycle, meaning the U.S. ends with rates at around 3-3.5% and Europe and
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