BOJ Rate Decision in Focus as Yen Weakness and Inflation Shape Market Outlook 
MAS Holds Monetary Policy Steady as Strong Growth Raises Inflation Risks 
ECB’s Cipollone Backs Digital Euro as Europe Pushes for Payment System Independence 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
After U.S. Federal Reserve policymakers hinted at looming rate cuts at yesterday’s meeting where the central tendency of the rate forecasts by FOMC participants declined by 50 basis points, the bond market is pricing 3 rate cuts in the next 9 months.
- The very next cut is now priced in July with 100 percent probability.
- The second rate cut is priced in December with 95.3 percent probability.
- The third rate cut is now priced in March 2020 with 83.2 percent probability.
While the market is pricing three rate cuts before the 2020 election in the United States, the Federal Reserve policymakers have forecasted two rate cuts.
