Global perspectives: Central banks in the spotlight.
From the U.S. to Brazil, central banks have taken a cautious and more conservative stance.
Investors remain focused on monetary policy perspectives.
Week of March 17 to 21
Investors are closely watching developments in monetary policy. Here are the key events:
- U.S.: Retail sales rebounded in February (+0.2%), while the Fed kept rates steady and projected only two rate cuts this year, adopting a more cautious tone.
- Europe: The BoE maintained its rate at 4.5% and highlighted global uncertainty. Germany passed a key fiscal package.
- China: The People’s Bank kept rates unchanged, but consumption surprised to the upside (+4.0%).
- Brazil: The Central Bank raised the rate by 100 bps for the third time, signaling a more moderate approach ahead.
- Mexico: The OECD warns that 25% U.S. tariffs could lead to a recession in 2025–2026. Fitch forecasts zero growth this year and only +0.8% in 2026. Private consumption stagnated in the early months of the year.
Signals remain mixed: while some central banks pause adjustments, trade and consumption continue to face challenges.
In this challenging environment, adaptability and a long-term perspective will be key.
KEY UPCOMING EVENTS
- March 24: In the U.S., housing sector indicators will be released
- March 27: In the U.S., the final estimate for Q4 2024 GDP will be published
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