Soft landing, slow road back
Thursday 27th July 2023
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The FOMC lifted interest rates by 25bp as expected, and the ECB is expected to do the same tonight. But in each case, it’s unclear where the central banks go next. But NAB’s Ken Crompton says the RBA is unlikely to lift rates next week, given the softer than expected Australian CPI print yesterday. But again, it’s unclear where they go from there. There were no strong market moves during or after Jerome Powell’s Fed press conference this morning. He clearly didn’t want to…
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