BoE talks cuts, soonish. Market unphased.
The BoE talks cuts, but NAB’s Rodrigo Catril says markets weren’t too phased, but we should be preparing for a series of cuts.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Friday 10th May 2024
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There wasn’t much market reaction as the Bank of England kept rates on hold but said what many already knew, that they will have to cut rates in the coming months. The ECB seems wedded to the idea of a June cut, with the accounts of their last meeting out today, but there is some speculation about how quickly they will follow through. Canada’s unemployment is expected to tick higher, adding pressure for a rate cut there although, as NAB’s Rodrigo Catril points out, it’s wage inflation that really counts. The UK is expected to see GDP return to positive territory today, and China’s PPI and CPI numbers are out over the weekend.
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