Bad Apple, Swiss Surprise, English Hawks fly
Markets have rising expectations for a June cut by the BoE but NAB’s Gavin Friend says services inflation is too high for that. But the Swiss National Bank has just moved rates down.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Friday 22nd March 2024
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Equity markets ushed higher, presumably on expectations of looming rate cuts by various central banks. NAB’s Gavin Friend in London says a move in August is still expected by the Bank of England, as the two hawks who voted for a rise last time fell in line in the latest meeting. In fact, one central bank did cut rates overnight. But what about the impacts of local data yesterday. Was the Australia unemployment number too low for the RBA, and the NZ GDP read too soft for the RBNZ?
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