Inflation eases and fears subside
NAB’s Ken Crompton says softer than expected CPI numbers on both sides of the Atlantic has markets assuming faster cuts from the Fed and the BoE.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Thursday 16th January 2025
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The biggest news this morning, the ceasefire in the Middle East, has had virtually no market response. Instead, bonds and equities have rallied on the positive CPI news from the US overnight. NAB’s Ken Crompton says the softer number has increased the prospect of more than one cut from the Fed this year. Bond yields have fallen markedly on both sides of the Atlantic. Today Australian’s employment data will be the key area of focus, particularly after the surprise fall in the unemployment rate last time. Will today’s data lead the RBA to conclude the labour market is too tight, or will they adjust their view of where the non-inflationary rate is?
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