David McNamara: Markets expect a number of rate cuts for all three regions between now and year-end

The path of inflation, particularly services inflation, will be key in determining the level of policy easing ahead in the eurozone, US and UK

President of the European Central Bank Christine Lagarde. Markets expect two more rate cuts from the central bank this year.

Given the first half of the year is well and truly behind us, and with the summer round of the main central banks' meetings completed, perhaps now is a good time to take stock of the current economic situation. 

In the US, despite some loss of momentum at the start of 2024, GDP accelerated in Q2.