Separate lanes

This Robeco report analyzes the diverse monetary policy paths of major central banks as of December 2024.  

• Federal Reserve: Slowing rate cuts due to inflation risks, with the federal funds rate projected to reach 3.5% by late 2025.  
• ECB* Continuing 25 bps cuts toward a neutral rate of 2%, supported by easing inflation and stable employment.  
• PBoC: Broad-based monetary easing expected in H1 2025, including rate and reserve ratio cuts to counter low inflation and weak consumer spending.  
• BoJ: Gradual rate hikes likely, supported by higher wage growth and moderate inflation.  

For a comprehensive analysis of these dynamics, access the full report.