RBA wait and see
The RBA is on hold, but Taylor Nugent says NBAB still expects two more hikes from the central bank. Meanwhile the Aussie dollar higher as China seeks to control the downward drift in the CNY.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Wednesday 5th July 2023
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The RBA decided to keep rates on hold yesterday, but there are still expectations of two more hikes even though the commentary from the central bank was more about slowdown concerns that the prospect of inflation worsening or taking longer to come down. NAB’s Taylor Nugent says this should be taken as a sign that they want to move more slowly, rather than this being the endgame. It’s a clearer picture in NZ though, where a much softer Quarterly Survey of Business Opinion has been taken as another indicator that the RBNZ’s job is done. Today, as America returns to work, we get the FOMC minutes and the Caixin services PMI for China.
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