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Fed turns hawkish, bank liquidity problems continue, oil slides further

It didn’t take long for the US President to attack the Federal Reserve as it cut rates but didn’t give a clear indication of further cuts or promise the return of QE. Phil Dobbie talks to NAB’s David de Garis about the Fed’s reasoning, the market reaction and the influence of a second liquidity shortfall in the overnight money markets. They also look at the Saudi oil situation, with prices falling, perhaps because a military response against Iran looks unlikely. Plus, what could a Supreme Court decision mean for Boris Johnson’s Brexit plans, a weaker UK CPI, and a look ahead to Australia’s employment numbers today.

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