When will they finish going up?
An expression is currently all the rage on the financial markets and it is identical in French and English: “the pivot” of central banks is the moment when they could turn the bullish cycle of interest rates around and reverse the trend.
Could this “pivot” be less distant than the consensus of experts think, which does not expect it before the spring of 2023?
It was enough for the Reserve Bank of Australia to raise its key interest rate on Tuesday, October 4 by only 0.25 percentage point (to 2.6%) instead of the half-point anticipated by analysts, for the stock markets are soaring.
In Paris, the CAC40 index took full advantage of this “butterfly effect” with a jump of 4.24% in a single session.
Foot on the brake
Investors are on the lookout for the slightest warning sign of a hint of relaxation on the part of central bankers.
The most powerful of the big money, Jerome Powell, the president of the American Fed...
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