Back to betting on the Fed; no pause for RBA?
Whilst US retail shows the Fed has more work to do, NAB’s Gavin Friend says yesterday’s Australian wage price index could force the RBA to rethink any idea of a pause before Christmas.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Thursday 17th November 2022
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Thankfully, World War 3 wasn’t started by that missile strike on Poland. Now markets are back to betting on how far the Fed will go, rather than NATO. As NAB’S Gavin Friend discusses yesterday’s US retail numbers shows greater resilience than anticipated, adding to the work of the FOMC to moderate demand. Moderating demand is less of an issue in the UK, where headline inflation has hit 11.1 percent and household pressures will be hit even more with a cost cutting, high taxing budget expected later today. On the home front, could the evidence of wage pressures yesterday be enough for the RBA to rethink any ideas of a pause in rates before Christmas?
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