GBP – The pound dropped on Thursday after the Bank of England raised interest rates but sounded less certain about the pace of further tightening to combat soaring inflation.
Summarising the meeting, Aviva noted that “In contrast to both the US Federal Reserve and the European Central Bank, the Bank of England delivered a relatively dovish message to investors today… there was more of a focus on slower growth and its impact on households going forward”.
AUD – The Aussie rebounded on Thursday as strong employment data pushed bond yields higher and triggered calls for a more aggressive stance form the RBA.
Speaking after the employment report, CBA stated that there was now a clear risk the RBA would drop its commitment to being “patient” on rates at the next board meeting in April. Concluding that they “anticipate the RBA will move to an explicit hiking bias at the May Board meeting, and to commence normalizing the cash rate in June.”
Summarising the meeting, Aviva noted that “In contrast to both the US Federal Reserve and the European Central Bank, the Bank of England delivered a relatively dovish message to investors today… there was more of a focus on slower growth and its impact on households going forward”.
AUD – The Aussie rebounded on Thursday as strong employment data pushed bond yields higher and triggered calls for a more aggressive stance form the RBA.
Speaking after the employment report, CBA stated that there was now a clear risk the RBA would drop its commitment to being “patient” on rates at the next board meeting in April. Concluding that they “anticipate the RBA will move to an explicit hiking bias at the May Board meeting, and to commence normalizing the cash rate in June.”
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.