In 2023, against the backdrop of sustained high inflation, major central banks around the world continued their monetary tightening trend, driving interest rates to operate at high levels. At the same time, the "side effects" of interest rate hikes continue to be highlighted, and the global economic growth rate further slows down, putting pressure on the prospects of tightening monetary policy. After nearly two years of interest rate hikes, major economies have slowed down their pace of rate hikes, and "dovish" signals are gradually emerging. Monetary policy is shifting towards expected warming, and the most aggressive rate hike in nearly 40 years is gradually coming to an end.