FOMC on hold, BoE go next, US GDP tonight, Corona virus spreads

The least surprising news today is the decision by the FOMC to keep rates on hold in the US. As Phil Dobbie discusses with NAB’s Tapas Strickland the Fed has determined that their policy is appropriate for now. Tonight’s GDP numbers from the US will help determine whether they are on the right path. It might be a different story for the Bank of England tonight, and question marks remain over the RBA next week. Will yesterday’s slight pickup in inflation exert any influence? Meanwhile news around the Corona virus continues to darken, raising the question, which asset classes have factored in the damage this worsening crisis could do.

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