Major developments beckon this week that could inform broad global and regional macro risks. To date, none of the world’s most powerful central banks have begun easing policy. Several central banks have already been cutting and for some time across places such as Latin America, Switzerland, and Sweden, but this week might kick it up a few notches with the ECB most likely to lead the charge. The Bank of Canada’s decision is much more uncertain. It could go either way. I’ve laid out the case for going now, the case for waiting, and what I think will happen. If Macklem is at all true to his word, then this week seems ... (full story)