NAB – The Morning Call · Fed’s turbo taper and dots surprise

Fed’s turbo taper and dots surprise

Thursday 16th December 2021

The Fed, not surprisingly, are tapering faster as the race is on to lift rates next year. NAB’s David de Garis says the QE ending by March clears the decks to raise rate, with a revised inflation forecast speeding up the expectations of rate rises. Markets were expected a hawkish tilt, so they haven’t been surprised. The Bank of England decision is less easy to read later on, with Britain’s high inflation number overnight offset by the highest number of daily COVID infections since the pandemic began. In a busy day we also get PMIs across the globe and Aussie employment numbers.

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