A step too far
JBWere’s Sally Auld says markets were living off the assumption that inflation had peaked after lower-than-expected US producer prices. But that all changed as Russian missiles struck Poland. A stark reminder of where the real risk lies.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Wednesday 16th November 2022
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Just as we pressed the record button on this morning’s podcast news broke that Russia had fired missiles into Poland, a NATO m ember. As JBWere’s Sally Auld explains, until that point market sentiment had been very positive, as producer prices in the US eased, adding to expectations that inflation had peaked. The missile strike was a stark remainder of what was one of the major causes of the inflation I the first place and that conflict is far from over. Locally the Australian Wage Price Index is released today and is expected to show wage pressures are well contained, supporting the RBA’s policy of a more gradual approach to rate hikes compared to their overseas counterparts.
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