Hawkish RBA, open Powell
Wednesday 8th February 2023
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There wasn\u2019t too much new from Jerome Powell when he was interviewed by the Wall Street Journal\u2019s David Rubenstein, but that didn\u2019t stop a rally in bonds for a short spell. It was followed by a swift reversal, perhaps on the realisation that he hadn\u2019t actually offered anything new. NAN\u2019s Rodrigo Catril says, nonetheless, it was a refreshingly open discussion reflecting the transparency of the Fed these days. At home a more hawkish RBA has seen bond yields rise sharply, with the expectation of more than one rise still to come.
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