Contrary to suggestions that the ECB and Bank of Japan are gearing up to tighten monetary policy sooner than expected, we think they will be happy to trail a long way behind the Fed and Bank of England. Indeed, the case for the Fed to raise rates four times this year has strengthened recently, and we expect the Bank of England to hike three times. But the ECB will probably leave rates unchanged until late 2019. And we expect the Bank of Japan to leave policy unchanged indefinitely.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services