Thursday 13th April 2023
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The headline rate for US inflation fell and for a moment bond yield showed significant falls. But, as NAB’s Taylor Nugent explains, the core readings were less hopeful. It wasn’t long after the release that the Fed’s Thomas Barkin reiterated the need to do more to get inflation down to 2%. But there was some concern amongst the Fed’s ranks at the last FOMC meeting as credit conditions worsened. Could inflation come down by itself? The Bank of Canada is happy to sit it out, keeping rates on hold yesterday and still expecting to reach their 2% target next year. Today the focus is on Australian employment numbers and, perhaps, the weekly jobless claims in the US, which went down last time, suggesting more people in work.
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