Monday13th December 2021
Markets were trading last week on the basis that the Omicron variant was not as lethal as the Delta strain, even though infections were spreading rapidly. NAB’s Ray Attrill says that’s been the view with central banks too, who are more concerned about inflation than and further impacts from COVID. That said, rising cases in the UK will almost certainly stop the Bank of England from raising rates this week, whilst the FOMC is expected to shorten its taper timeline, finishing in March. It’s a busy week for central banks and more data on Omicron will influence the direction too. Starting with a press conference from the UK’s Prime Minister (for now) shortly after the release of this podcast.