Bank of Canada on pause, ECB unlikely to do the same
Thursday 9th September 2021As expected, there were no moves from the Bank of Canada overnight, but NAB\u2019s Gavin Friend says the same will not be true for the ECB tonight. They will cut back on bond buying, he says. In fact, it\u2019s taken longer than expected. Currency markets have been fairly quiet, with most moves happening in equities, which have adopted a more cautious air. The Fed\u2019s Beige Book reflected some of this caution, with many consumers wary of eating out or going on holiday for fear of catching the Delta variant. There\u2019s a rising delta between jobs advertised and employment, with the JOLTs figures showing 10.9 million openings in the US. Boris Johnson pushed ahead with his bold move of lifting taxes in the last few hours, running the risk of slowing a recovering economy. Today, Aussie weekly payrolls, China\u2019s CPI and a speech from the RBA\u2019S Guy Debelle.
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