Panic Stations

NAB Morning Call · Jun 22, 2023 · 17m

Friday 23rd June 2023NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABThe Bank of England and the Norges Bank both surprised markets, each raising interest rates by 50 basis points. NAB’s Gavin Friend says the mix of higher UK earnings and stubborn inflation numbers yesterday combined to drive this bigger than expected move. The question is, how much further will they go as the UK fights supply chain and labour supply issues and second-round effects? Certainly Jerome Powell is painting a less volatile path for the US economy, where further rate rises…