A big week for central banks as US inflation hangs on
Persistent inflation will add to the FOMC’s commitment. Even with slower GDP growth the ECB is still priced in to raise rates. But NAB’s Rodrigo Catril says the RBA is still expected to keep rates on hold tomorrow.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Monday 1st May 2023
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It’s a big week for central banks, with the ECB and FOMC expected to lift rates. The US employment cost index and PCI deflator on Friday showed that prices in the US are taking a while to moderate. In Europe GDP numbers showed the economy is starting to slow, but the market still has a rate rise priced in. But NAB’s Rodrigo Catril says the RBA is still expected to keep rates on hold tomorrow. Over the weekend China reported weaker than expected manufacturing numbers, and on Friday the Bank of Japan kept rates on hold and a continued dedication to yield curve control, even as Tokyo’s inflation numbers jumped higher.
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