Thursday 4th November 2021
There weren’t any surprises in from the FOMC this morning. Te Fed will cut asset purchases by $15 billion this month, with a further $15 billion in December, and an expectation that it will continue until the middle of next year. But Jerome Powell was again quick to point out that the tapering does not imply “any direct signal on interest rate policy”. Phil Dobbie talks to NAB’s David de Garis about the meeting, and look at the latest US data that shows further signs of recovery. Tonight all eyes are on the Bank of England, where we can expect a small move up in interest rates. They’ve practically said as much.