A big step to the soft landing few believe will happen
NAB Morning Call
00:00
The Fed Meeting
The market was pretty fully priced for a follow up 75 basis point move at the july meeting. But one descenter ester george, the kansas fed president, who's traditionally as one of the more hawkish members ar dissented in favour of 50 basis points. So it didn't go that way, but we're getting us there. The other thing gain that markets munt have seen is that ovese the 20 24 a medium dot is now one between three 25 and three, 50, a verses three 75 for 20 23. That sort of gives a bit of a nod to market pricing, which is effectively saying, we think cutting rates as early as the second half
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