Soft landing, slow road back
Thursday 27th July 2023
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The FOMC lifted interest rates by 25bp as expected, and the ECB is expected to do the same tonight. But in each case, it\u2019s unclear where the central banks go next. But NAB\u2019s Ken Crompton says the RBA is unlikely to lift rates next week, given the softer than expected Australian CPI print yesterday. But again, it\u2019s unclear where they go from there. There were no strong market moves during or after Jerome Powell\u2019s Fed press conference this morning. He clearly didn\u2019t want to appear too dovish or too hawkish, just data dependent. He did reiterate his personal belief that the US will navigate a soft landing. Listen in for more on what was said.
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