Fed, BoE, and BoJ minutes point to a narrower window for rate cuts in the next 7 days
Why this may happen
Sticky services inflation and renewed wage pressure keep policy committees cautious. Markets are already repricing terminal rates, which tends to precede firmer official guidance.
Watch for language around 'higher for longer' and balance-sheet runoff pacing. Real estate and bank funding costs usually respond within 48 hours.
Scenario comparison
Guidance emphasizes patience, with no surprise moves but firm tone on inflation persistence.
Unexpected dovish tilt triggers a rapid easing repricing and short-lived equity rally.