Trading Plan – Monday 18th March 2024: Busy week for central bankers

Mark NugentMarch 2024, Trading Plan

Trading Plan – Monday 18th March 2024: Busy week for central bankers

Good afternoon.

It’s all about central banks this week.

We have the Bank of Japan on Tuesday. The expectation is that the bank will end negative interest rates. But don’t get too excited as the terminal rate (the peak) is expected to be a not stellar 0.5%, with no more than two hikes per year on the journey there. So, very little and not very often.

On Wednesday we have the Fed. The market has now fully assimilated the Fed’s “higher-for-longer” mantra with only three hikes expected this year, down from six expected at the end of 2023.

The Bank of England takes the stage on Thursday. No change is expected but as always attention will focus on the vote split and the statement.

We will also see PMI data from Germany, the eurozone, the UK and the US.

I’ll be back tomorrow.

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