15 min
Data drought with no clear direction, ahead of BoE NAB Morning Call
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- Business News
Thursday 9th May 2024
NAB Markets Research Disclaimer
Financial Services Guide | Information on our services - NAB
There wasn’t any tier one data overnight to give markets any clear direction. You could say there was an air of subduedness. The Riksbank cut rates, as suggested yesterday, but one ECB member is concerned that going too early, against a Fed that keeps rates on hold longer, could drive the Euro lower and add to inflation concerns. NAB’s Gavin Friend says the problem emerges after one or two cuts, alongside a Fed that’s not moving. So what’s the Bank of England’s strategy? August seems the most likely month for a cut, says Gavin, but we’ll find out more at the meeting and the press conference that follows.
Hosted on Acast. See acast.com/privacy for more information.
Thursday 9th May 2024
NAB Markets Research Disclaimer
Financial Services Guide | Information on our services - NAB
There wasn’t any tier one data overnight to give markets any clear direction. You could say there was an air of subduedness. The Riksbank cut rates, as suggested yesterday, but one ECB member is concerned that going too early, against a Fed that keeps rates on hold longer, could drive the Euro lower and add to inflation concerns. NAB’s Gavin Friend says the problem emerges after one or two cuts, alongside a Fed that’s not moving. So what’s the Bank of England’s strategy? August seems the most likely month for a cut, says Gavin, but we’ll find out more at the meeting and the press conference that follows.
Hosted on Acast. See acast.com/privacy for more information.
15 min