The Board has ceased the bond purchase program and significantly lifted its inflation forecasts but the Governor maintains the line that the sustainability of its inflation forecasts can only be achieved with much clearer evidence Read more…
Key takeaways We expect the Bank of England (BoE) will hike the Bank Rate by 25bp to 0.50% on Thursday. We expect the BoE will repeat that “some modest tightening of monetary policy […] is Read more…
Daily Pivots: (S1) 0.7011; (P) 0.7044; (R1) 0.7101; More… Intraday bias in AUD/USD remains neutral at this point. On the downside, sustained break of 0.6991 key support will confirm resumptions of whole down trend from Read more…
Australian Dollar dips broadly after RBA sounds surprisingly cautious regarding raising interest rates. But loss is so far very limited, as supported by improving market sentiment following strong rebound in US stocks overnight. Dollar is Read more…
RBA keeps cash rate target unchanged at 0.10% today. It’s reiterated that RBA “will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range”. And, it Read more…
At its meeting today, the Board decided to maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances at zero per cent. It also decided to cease further Read more…
Australia retail sales dropped -4.4% mom in December, much worse than expectation of -1.9% mom. That’s also the largest monthly decline since April 2020. “Despite this month’s fall, retail turnover remains strong, up 4.8 per Read more…
Australia AiG Performance of Manufacturing Index dropped sharply by -6.4 pts to 48.4 in January. Production dropped -0.6 to 51.9. Employment dropped -4.6 to 45.4. New orders dropped -8.0 to 51.3. Supplier deliveries dropped -15.6 Read more…
Richmond Fed President Thomas Barkin said yesterday, “as I talk to participants in the economy, what I hear is they actually want us to do something now about inflation. They’d like us to get back Read more…
Atlanta Fed Bank President Raphael Bostic said, 50bps hike in March was “not my preferred policy action.” He added, “I had three rate increases in mind. March is looking like the right time” to get that Read more…