Aussie CPI & ECB; sentiment sours a little
Geopolitics is back in play, whilst NAB’s Gavin Friend says yesterday’s Aussie CPI numbers leave the RBA with little choice but to raise rates at least once. Next, the ECB.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Thursday 26th October 2023
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Inflation numbers for Australia were higher than NAB’s expectations, which were higher than market expectations. The number is also well above the RBA’s own forecasting which, NAB’s Gavin Friend say, leaves them with little choice than to pursue at least one more rate hike, starting next month. Elsewhere markets have returned to a more cautious approach, as hopes fade of a diplomatic resolution to the situation in Gaza and Israel. The Bank of Canada kept rates on hold and the ECB may well do the same, but have they both reached their peak?
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