Powell says labour market is no longer an inflationary pressure
Wednesday 10th July 2024
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Jerome Powell has been speaking to the US congress and says the labour market is no longer an inflationary pressure. So, what does that mean for the timing of rate cuts? NAB\u2019s Skye Masters says there hasn\u2019t been too much change in expectations, with a September cut seen as most likely. With a light calendar today, a lot of the focus will be on the US ten year note auction early tomorrow morning and whether weaker demand could push yields higher. The RBNZ meets today with any expecting a fairly dovish hold. The hold is extremely likely, but dovish? Let\u2019s see.
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