More hikes a pretty good guess
Even though Jerome Powell talked of two more hikes from the Fed, NAB's Taylor Nugent says it's clear markets don’t believe him. Two more hikes from the BoE seems much more certain after a very sticky inflation read.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Thursday 22nd June 2023
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At his testimony to the House Finance Committee overnight Jerome Powell suggested two more rate hikes would be a “pretty good guess”. But, as NAB’s Taylor Nugent points out, markets haven’t even fully priced in one more hike for the remainder of this year, so they clearly don’t believe him. It’s a safer bet that the Bank of England will raise twice, or maybe one big hit today, as they prepare to counter yesterday’s inflation numbers that showed the downward movement in the headline rate has stalled, and the core rate continues to push higher. Not a happy place. And they lost at the cricket.
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