Global Economy Briefs

Trusted Insights for What’s Ahead^®

• The Developed Market (DM) monetary policy shift gathered steam in September. Last month, the Bank of Canada, the European Central Bank (ECB), the Swiss National Bank, and Sweden’s Riksbank all lowered monetary policy rates, the first time five banks cut interest rates in the same month. Additionally, the Federal Reserve Board (Fed) cut interest rates to reduce the degree of restrictiveness in monetary policy. It took the total number of interest rate cuts by the major 12 DM central banks The Conference Board follows regularly to thirteen.

• The FOMC increased the number of rate-cutting central banks to seven. The Federal Reserve increased the ranks of rate-cutters to seven. The Fed was also the first central bank to cut interest rates by mor