BoE lifts rates despite everything

NAB Morning Call · Dec 16, 2021 · 16m

Friday 17th December 2021A rate rise by the Bank of England has surprised many, particularly in an environment of record COVID infections, and a hospitality industry calling for government support as pre-Christmas demand collapses. NAB’s Gavin Friend says it had been clear since August that they wanted to lift rates, the only reason for the delay was a question mark over whether employment numbers would fall after furlough ended, which it didn’t. The ECB gave clearer indications of how they would manage their asset purchase post March. The RBA’s Philip Lowe remains cautionary despite an…