Wednesday 8th July 2020
There isn’t an immense amount of confidence about how quickly economies will recover. The Fed’s Raphael Bostic raised concerns about the impact of the rising infection numbers in the US. At home, the Melbourne lockdown will also slow things down. As NAB’s Tapas Strickland discusses on today’s podcast, this uncertainty is why the RBA, and others, are in ‘wait and see’ mode. Europe has updated its forecasts with a bigger decline this year followed by less of a recovery next year. China tensions add to the uncertainty, with the authorities there suggesting the UK would be a ‘hostile partner’ if it pulled Huawei out of its mobile networks. With a quiet day ahead there’s more time to mull over the mix of sentiments.