No surprises from RBA but BoC on a knife-edge

Wednesday 7th December 2022

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US and European equities have taken another hit. NAB’s Ken Crompton says markets continue to respond to the strong jobs data from the US on Friday and what that means for terminal Fed rates. There were no surprises from the RBA yesterday, with NAB’s Ivan Colhoun saying the central bank is very cognisant of lags in monetary policy, so it’s too early to expect any pause in the first part of next year. It’s a different story for the Bank of Canada tonight – who front-loaded hikes and the question is how close are they to reaching the end of their tightening cycle?

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