When Hawks Fly

Wednesday 2nd October 2024

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Today, Phil talks to NAB’s Ray Attrill about two hawks who seem to have metamorphosed into something a bit more dove-like. First, the ECB’s Isabel Schnabel, who has just about confirmed a rate cut for this month. Secondly, the BoJ’s Governor Ueda who seems to be happy to toe the line of the new Prime Minister. The prospect of no rate hike any time soon, and the questions it raises about the independence of the central bank, has seen the Yen taking a big hit. Looking ahead, the US Services ISM will be the key data piece, whilst we keep a watching brief on developments in the Middle East.

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