Will hawks or doves have the upper hand? The tug-of-war between the camps triggers action in all financial markets, which await a clear turning point.
The Reserve Bank of Australia is set to strike a more hawkish tone, reversing its dovish shift. Policymakers at the Bank of England may open the door to a rate cut in June. Economists fear a stagflationary picture from a measure of US consumer confidence. Decisions from two central banks in Australia and the UK, and a sneak peek into US consumer sentiment in May could provide some answers.
Afterward, the quarterly Monetary Policy Report would move markets. The UK economy is slowing down, and unemployment is creeping up. These factors may push Governor Andrew Bailey and his colleagues to lower their forecasts and signal an initial rate cut in the summer. UK Unemployment hits 4.2% UK unemployment. Source: FXStreet Then, Governor Bailey takes the stage. He tends to be gloomy, and he could further signal that rate cuts are coming.
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