The United States Federal Reserve would make its first move ...

The United States Federal Reserve would make its first move to lower rates in May.

In January, the US saw inflation lift just 3.1 per cent - an improvement on the previous month. But February saw an unexpected lift to 3.2 per cent, which has thrown previous forecasts into question.

While there’s no guarantee the RBA will follow, a move from the Fed could be a positive sign of where rates are headed here.

So, while May probably won’t see the end to this long and painful rate-cycle road trip, it may be the month we see the light at the end of the tunnel.