Wednesday 15th June 2022
The FOMC meeting tomorrow morning (Australian time) has been the focus of intense speculation this week, with the surprise inflation numbers last week suggesting a more aggressive stance by the Fed. Some commentators are even pointing to a 100-basis point rise. NAB’s Rodrigo Catril says the dot plots from this meeting – showing the Fed’s own expectations of the path of rises – will be more significant than the rate decision itself. Meanwhile, Japan and China are struggling to constrain yields and the BoE faces an easier job as the UK economy slows itself down, without too much central bank intervention.