Unanimous uncertainty
JBWere’s Sally Auld says markets were expecting a pause from the Fed. The surprise was the expectation of another 50 bp of rises before they finish the job.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Thursday 15th June 2023
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Few will have been surprised by the decision of the FOMC to pause interest rates, after 10 successive hikes. But they have also signalled that rates could rise as much as 50 basis points, with one member wanting to see rates go over 6 percent. JBWere’s Sally Auld talks to Phil about the decision and take-outs from the press conference that followed. One thing is clear, although the pause was a unanimous decision the dot plots show the board members have wildly different expectations of where to go from here. The ECB is not ready to pause yet. And the next move by the RBA will be to some extent impacted by today’s employment numbers.
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