Europe reaches the peak, or is it a false summit?
The ECB lifted rates, just as NAB predicted. Gavin Friend talks through the market response and ECB’s revised forecasts for growth and inflation. Plus, yesterday’s Aussie employment growth, was it too good?
NAB Morning Call · NAB - The Morning Call
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Show Notes
Friday 15th September 2023
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Just as NAB predicted, the ECB has lifted rates again, with a swift response in European bond yields and the value of the Europe. NAB’s Gavin Friend talks through the announcement, the response and the question of whether there is more to come. The ECB also revised down its growth forecast, and upped its inflation expectations a little. Elsewhere, the US reported strong retail numbers., following on from Australia’s higher than expected employment data yesterday. Is read likely to lead the respective central banks to take a more hawkish line? Lots of data from China today – will any of it knock the wind out of the Aussie dollar, which is on the rise against a rising US dollar this morning.
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