Traders say that in some cases perceptions are seemingly changing on almost a daily basis, as central bankers struggle to balance the need to cut rates to stimulate growth with the need to increase them to combat inflationary pressures.
For instance, the consensus view that UK rates would fall further to counteract the risk of a damaging fall in the housing market was challenged with the release of minutes from the Bank of England’s monetary policy committee’s meeting on April 23.
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