Eurizon Weekly 23 Sep. 2024. Government bond rates were stable and the stock markets scored gains following the opening of the Fed’s rate reduction cycle (expected and priced in by the markets), with an initial 50 basis points cut. This marks a recalibration of monetary policy, that does not anticipate a sequence of equally sharp cuts, but takes stock of the decline of inflation. The next set of macro data on the labour market, growth, and inflation, will be decisive in determining the actual pace of rate cuts. Stefano Cucchi of Eurizon’s Macro Research & Product Specialist team reports. Audio recorded on 23 Sep. 2024.