The central banks are currently attempting to walk back the ...

The central banks are currently attempting to walk back the forecasted six rate cuts to none because of strong employment data and higher inflation readings.

It’s going pretty well - the markets have repriced back to three rate cuts while still going up.

On current data, the central banks have no business cutting rates unless there’s a financial catastrophe requiring it. But they can’t come and say that it’ll tank the equity markets.

So we get this song and dance instead :-)