Jumana Saleheen, chief economist at Vanguard Europe, said that although the global economy proved to be “more resilient than many expected in 2023, we expect monetary policy will finally begin to bare its teeth next year”.
“Central bankers will certainly hope so,” she said.
‘A tough call’: Bank of England dovish move signals ‘higher for longer’ rates policy
The majority of central banks pursued a policy of continuing interest rate hikes in the first half of the year before moving to a pause in H2, in a bid to achieve a soft landing of the economy and avoid tipping it over into rece…