The Fed is now “one and done and ECB to raise the policy rate 25 bps

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As was widely anticipated the Federal Reserve’s Federal Open Markets Committee (FOMC) chose to increase the policy (federal funds rate) target by 25 bps to an upper limit of 5.25

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05 May 2023

Toward a fitter future: Reserve Bank of Australia surprises with a 25 basis point policy rate hike

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In what was a surprise decision, the Reserve Bank of Australia (RBA) Board meeting on Tuesday decided to increase the policy rate to 3.85 per cent. Following on from last

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04 May 2023

RBA “path” gets a little wider

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Reserve Bank of Australia (RBA) Governor Philip Lowe and his fellow Board members have had a torrid time of late. In that context, last Wednesday’s March quarter consumer price index

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01 May 2023

RBA Review recommendations a positive step but no guarantee against future policy errors

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From a market perspective the main takeout from the review is the establishment of a dual board system: one that makes decisions on monetary policy (setting of the policy rate)

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24 Apr 2023

RBA: Is the narrow path a tightrope?

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Much has been made of the RBA Board’s decision at its April meeting to leave the policy rate unchanged at 3.60 per cent. That “pause” confirms the RBA’s status as

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19 Apr 2023

Is the RBA’s narrow path a tightrope, and is the Fed one and done?

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The CPI and the Fed: more like one and done rather than none and done Despite a stubborn failure for the data to conform, the bond markets have had a

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14 Apr 2023

Monthly CPI indicator better than expected…but RBA should raise rates again in April

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Wednesday’s better than expected monthly consumer price index (CPI) indicator has raised the prospect that the Reserve Bank of Australia (RBA) may “pause” increasing the policy rate when it meets

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31 Mar 2023

US Fed’s FOMC hikes 50bps, maintaining a moderately “hawkish” disposition, and the Bank of England to hit 25bps

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In what looks to have been a finely balanced decision, the US Federal Reserve’s (Fed) Federal Open Markets Committee (FOMC) opted to increase the policy rate target by 25 basis

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24 Mar 2023

Is the (recession) wolf finally at the door for the Federal Reserve, and will Lowe’s path to become narrower?

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The Fed. Is the (recession) wolf finally at the door? For the last couple of years bond markets looked to have been ‘crying wolf” on recession prospects. Is SVB a

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16 Mar 2023

Markets juggle the ‘hot potato’ of policy guidance as central banks search for ‘wiggle room’

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Markets juggle the ‘hot potato’ of policy guidance as central banks search for ‘wiggle room’ One of the earlier hits of renowned Australian kids band, the Wiggles, involved juggling a

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10 Mar 2023