When Doves Cry
Also Interesting
Weekly digest
There an is old proverb that ‘one swallow does not make a summer’, so what should one read into the dole of doves that flew over Washington last week? Without wanting to lean too heavily towards the US in this week’s blog, the policy decisions that are announced across the pond remain key to the drivers of global risk appetite and asset pricing today. With no explicit change to the policy rate, but a wholesale change to the committee’s forward guidance on policy, does this portend an economic downturn or are the doves extending an olive branch to those who might otherwise take flight (or indeed to Mr Trump, from Mr Powell)?
