More hikes a pretty good guess
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Thursday 22nd June 2023
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At his testimony to the House Finance Committee overnight Jerome Powell suggested two more rate hikes would be a \\u201cpretty good guess\\u201d. But, as NAB\\u2019s Taylor Nugent points out, markets haven\\u2019t even fully priced in one more hike for the remainder of this year, so they clearly don\\u2019t believe him. It\\u2019s a safer bet that the Bank of England will raise twice, or maybe one big hit today, as they prepare to counter yesterday\\u2019s inflation numbers that showed the downward movement in the headline rate has stalled, and the core rate continues to push higher. Not a happy place. And they lost at the cricket.
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