A troublesome consensus

Following this week’s ECB policy decision, investors will likely remain focused on central banks in the coming days with the Fed, the BoJ and the BoE all due to meet next week. With that in mind, we look at some of the key considerations for these policymakers in our charts this week. Specifically we home in on:

 

·         Quantitative tightening and real yields

·         A mixed global growth consensus for 2024

·         A still-high global inflation consensus for 2024

·         Slowing UK labour market activity

·         The China-induced slowdown in South Korea’s export growth

·         The US dollar and FX reserves