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Thursday 25th May 2023

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McCarthy and Biden finished their four hour talks on Wednesday with no resolution on the debt ceiling. Their division over spending continues to concern markets. NAB\\u2019s Ray Attrill looks at the market response, with a deal needed by the end of the week to allow time for the legislative process to run its course. There\\u2019s division within the FOMC too, evidenced by the latest minutes. There;\\u2019s also been a couple of surprises in the last 24 hours \\u2013 the RBNZ indication that they may have stopped lifted rates, and the UK\\u2019s worrying inflation numbers now raising the possibility of a 50bp rate hike next time by the Bank of England. And rate hikes from the RBA might still have a way to go after Philip Lowe\\u2019s meeting with legislators. 

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