ECB sends clear message, with lots of slides
The ECB has come out with guns blazing, armed with slide packs and hawkish talk. Meanwhile, no big surprises in the budget but NAB’s Dave de Garis says it shows how much stronger the Aussie fiscal position is compared to others. US CPI tonight.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Wednesday 10th May 2023
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The Australia federal budget last night didn’t contain any surprises. As NAB’s David de Garis explains, it’s clear that Australia’s fiscal position is better than most, but that doesn’t mean inflation is under control. In the US the fiscal position is a particular worry as the debt ceiling could be reached as soon as June 1st and Biden and McCarty are going into talks intent on not budging their positions. Meanwhile, the ECB has been in full-hawk mode, talking up the expectations for rate hikes. Today rings us the most important number of the week – US inflation.
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