Interest rate at 5. 5 . Of course, dave, it is widely expected all 20 economists we surveyed expected as much. But the question is really whether or not governor adrian orr will sound hawkish, given that inflation is still far from where he wants it to be, which is one, two, 3 right now. We had headline inflation in the Second Quarter at about 6 . So rbnz staying pat for a second time in a row at 5. 5 . Remember, this is the central bank that has done 525 basis point hike. It has been pretty aggressive ahead of the curve, way ahead of the fed. And now it is keeping its rate standing pat at 5. 5 for a second time in a row. Dave. Yep. Yeah. So were looking at, to your point there where there is some commentary on inflation and how restrictive rates are and theyre saying already restrictive and that should be enough to return inflation to target. Were just going through some of the phrasing here on the statement because that i guess in some ways, short of hearing from the governor himself
The US market is adjusting to the disparity between market expectations and the Fed s actions, with fewer rate cuts expected. Bank earnings and a pessimistic outlook are contributing to the slowing down of the market. However, the BOFA fund manager survey suggests that long-term bond yields in the US will decrease, leading to increased funds flowing into emerging markets like India. India s strong growth, stability, and execution make it a magnet for investors, especially as funds flow out of China due to its slowing economy and geopolitical tensions.
Against a 10 per cent rise in the BSE Sensex, China's benchmark Shanghai Composite index has stayed flat year-to-date. BofA said the consensus is that policy in China will be limited to fine-tuning the real estate or property market.
New market highs as the soft landing is now the accepted view, not a recession. The Viper Reports Tom Aspray discusses what he thinks it means for stocks in August.
Fewer Investors See Euro as Undervalued, More See Sterling as Undervalued 1118 GMT - Fewer investors see the euro as undervalued in June, but more investors consider sterling to be. | June 13, 2023