RBA going for the mid-point, BoJ going nowhere, Canada’s inflation bounces back
NAB’s Rodrigo Catril says the RBA minutes yesterday were a sign that markets need to rethink their expectations for the speed of rate cuts next year.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Wednesday 20th December 2023
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The RBA minutes yesterday were more hawkish than expected. NAB’s Rodrigo Catril talks about how the central bank is aiming for the mid-point of their 2 – 3 percent target range, rather than the top, raising the prospect of rates staying higher, or a more concerted effort to bring inflation down faster. This adds to the speculation that interest rates will be lifted in February, although a lot will depend, of course, on Q4 CPI, out late in January. Elsewhere, the Bank of Japan did and said little and Canada’s core inflation bounced back up a little. A reminder to all that it isn’t beaten yet.
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