Lates News

TsLombard suggests that a radical period of tightening is unlikely to occur. Faced with the impact of oil prices, global central bank policy tightening may be quite limited. In Europe, the energy shock has already been dragging down economic activity. The labor market in the UK has been unstable for some time, and hiring sentiment in Europe is also becoming increasingly weak. In our view, the tightening efforts of the European Central Bank and the Bank of England this year will be lower than market expectations, and this possibility is currently underestimated. The possibility of short-term policy tightening by the Federal Reserve in the US is small, and even if it does happen, it is almost certain to wait until 2027.