Tuesday 20th December 2022

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There are only five sleeps to Christmas, but central banks are still cramming in what they can to position markets for the start of 2023. The ECB is ramping up its hawkish messaging, whilst the Fed continues to deny that they will start reversing rates next year, even as the housing market struggles. The RBA, meanwhile, is giving very little away, which is why there is more than the usual interest in the minutes of the last meeting out today. Plus, the Bank of Japan meets with a likely review of their monetary approach and China is promising targeted monetary policy next year. NAB’s Rodrigo Catril talks us through all of that in the penultimate Morning Call of the year.

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