First mistake is being impatient with a banking crisis. Second is not paying attention to China.

Eurodollar University · Jun 8, 2023 · 18m

Central banks in Australia and Canada ended their short #ratehikes #interestrates pause, ignoring the global #recession risks China just reminded everyone about for their own #inflation biases. History (not to mention markets) caution against prematurely shifting when faced with such a high level of uncertainty.

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World Bank Global Economic Prospects

https://www.worldbank.org/en/publication/global-economic-prospects

RBA Statement by Philip Lowe, Governor: Monetary Policy Decision

https://www.rba.gov.au/media-releases/2023/mr-23-13.html

Bank of…