Global tightening cycle over, slower ride for growth ahead

U.S. Federal Reserve will cut interest rates on July 31. - Reuters

BENGALURU: Major central banks are done tightening policy, according to a majority of economists polled by Reuters, with the growth outlook wilting across developed and emerging economies along with scant prospects for a surge in inflation.

While that is largely reflected in bond markets, with major sovereign bond yields falling this year, global equities have rallied, and the S&P 500 index is near record highs after its best start this year in more than three decades.