It has been a busy but highly-informative week, with the RBA, FOMC and ECB all meeting and a slew of significant data releases in between.Beginning in Australia, the RBA’s 25bp rate hike came as a surprise to ourselves and markets. Crucial to this decision was the Board’s interpretation of the Q1 CPI report, focussing on the strength of inflation amongst service components despite the moderation in the headline and trimmed mean measures seemingly running ahead of the Board’s expectations. With inflation rightly noted as being uncomfortably high, there was a greater emphasis on “the importance to returning inflation to target within a reasonable timeframe”. Note, a full update of the RBA’s forecasts was released as part of today’s May Statement on Monetary Policy.
The RBA highlights the key to the policy debate – the risks to the inflation forecasts from sticky services inflation. The Reserve Bank’s May Statement on Monetary Policy shows that the Bank has lowered its growth and inflation forecasts for 2023 from the February Statement.
RBA Board Hikes the Cash Rate by 0 25% actionforex.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from actionforex.com Daily Mail and Mail on Sunday newspapers.
Timberline FPD to request federal PILT funds from Gilpin County for needed equipment weeklyregistercall.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from weeklyregistercall.com Daily Mail and Mail on Sunday newspapers.