Thursday 12th December 2024
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US equities pushed higher today as US CPI provided no surprises, or any reason for the fed to deviate from their expected rate cut next week. The Bank of Canada managed a 50bp rate cut yesterday, but it’s likely that cuts will be less frequent and smaller now, as they try to find the neutral rate. The Swiss National Bank, managing an economy that suffered very little from the blight of inflation, could well engineer a 50bp cut today as well. Meanwhile, NAB’s Gavin Friend suggests the ECB, who are expected to cut again today, could move into stimulatory territory next year. Locally, all eyes will be on Australia’s employment data.
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