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UBS forecasts a November RBA interest rate hike, and likely more to come after that

October 25, 2023

UBS response to Wednesday’s upside surprise in Australian inflation data, its Australian economist forecasts a 25bp Reserve Bank of Australia cash rate hike at its …

Central Banks

Bank of Canada interest rate pause continued, with a “clear hiking bias”

October 25, 2023

The Bank of Canada left its overnight rate unchanged at 5%, although other events overtook the news on it: Forexlive Americas FX news wrap 25 …

Central Banks

RBNZ says it expects defaults to increase in agricultural lending portfolios

October 25, 2023

Reserve Bank of New Zealand statement: Agricultural sector facing difficult economic conditions due to low prices, high operating expenses and increased debt servicing costs Defaults …

Central Banks

Alarms, and phones, going off in BoJ bedrooms with USD/JPY above 150

October 25, 2023

USD/JPY has cracked above 150. Japanese Ministry of Finance officials will be getting early morning phone calls, as will Bank of Japan officials. Japan has …

Central Banks

Powell does not comment on monetary policy or economic outlook in prepared remarks

October 25, 2023

Federal Reserve Chair Jerome Powell brief introductory remarks before the 2023 Moynihan Lecture in Social Science and Public Policy event. As the headline says, nothing …

Central Banks

Economic calendar in Asia Thursday, 26 October 2023 – RBA Governor Bullock speaking

October 25, 2023

Reserve Bank of Australia Governor Bullock will be appearing in parliament, before the Senate Economics Legislation Committee. I’m listening out for hawkish comments after yesterday’s …

Central Banks

CIBC sees the Bank of Canada cutting rates by 150 basis points next year

October 25, 2023

The Bank of Canada left rates unchanged today at 5.00% but maintained a hawkish bias. CIBC thinks current rates will be enough to restrain inflation …