Central banks globally are expected to lower interest rates in 2024, reversing the trend of recent hikes. This shift, aimed at preventing a severe economic downturn, is supported by positive consumer price data and comments from ECB and Federal Reserve officials. Morgan Stanley's Chief U.S. Economist, Ellen Zentner, views 2024 as a pivotal year for the economy and monetary policy. The Federal Reserve maintained current rates in its final 2023 meeting, but rate cuts are anticipated in early 2024. The Euro Zone may enter a recession, while Japan benefits from its negative interest rate policy.