The RBA is expected to cut interest rates today, but more interesting will be what Philip Lowe says this evening. Will he signal the extent of further cuts? Phil Dobbie asks NAB’s Tapas Strickland whether QE could even be on the horizon. The probability of imminent rate cuts from the Fed also ratcheted up, as US Treasury yields fell even further. There was also further data showing a global weakness driven by trade uncertainty. To that you can add moves by the Federal Trade Commission in the US likely to commence an antitrust investigation into Facebook. It’s all going on!
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More central bankers wanting to ease off the pedal
The pound rises as the BoE’s Gertjan Vlieghe talks rate rises of the UK next year, but NAB’s David de Garis says the argument was more nuanced than the market response would suggest.
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Slow money
Milton Friedman’s formula, on how the speed of money influences inflation and growth, missed on vital ingredient.
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UK empties the glass, but markets still half full
Friday’s high inflation number I the US makes a faster taper from the FOMC almost certain, says NAB’s Ray Attrill, whilst the UK’s concerns over Omicron raises questions about the market’s glass half-full optimism.
