Economic News Category

Australian Business and Consumer Sentiment Business reported another strong month of sales and profitability, although a dip in new orders and rising costs weighed on sentiment. Whilst consumer-driven demand remains high, National Australian Bank’s chief economist noted that forms appear wary that the current pace of consumption will continue. PMI survey’s for Australia continue to

Federal Reserve issues FOMC statement Last week passed without any major movement. The main event was FOMC meeting of the US Federal Reserve at which it was unanimously decided to raise the key rate by 75 basis points to 4.00%. The highest level since 2008. Such a move was quite expected. Therefore, the subsequent press

FOMC Meeting, Expected Hike 75bps The FOMC will conclude it’s monetary policy today. The expectation is that traders are pricing in nearly 90% odds of a 75bps interest rate hike, an expectation that was supported by the Wall Street Journal’s. Traders are currently pricing in a peak Fed Funds rate around 4.9% in May 2023,

Euro area annual inflation up to 10.7% – European Union Eurostat’s preliminary estimate indicated an acceleration of annual inflation in the euro region from 9.9% immediately to 10.7%. Economists are expecting no change, and the difference of 0.8 points is one of the most prominent indicators economists predict quite accurately on average. But it’s not

The RBA with a 25bp hike Expected The RBA is set to hold their November meeting tomorrow and whilst the consensus is for a 25bp hike, it doesn’t mean they won’t do a 50bp one instead. Economists favor a 25bp hike, although money markets estimate a 51% chance of a 50bp hike tomorrow. It may