Turning up the rhetoric

Monday 20th June 2022It’s almost like there’s a race to turn up the rhetoric between central bank speakers, signalling to markets that rates will keep going up and the increments might be quite large. Klaus Knott from the ECB, for example, is talking about a possible series of 50 basis point hikes, which is a long way from the gradualism we’ve been hearing about for most of this year. This morning NAB’s Rodrigo Catril also talks about the fate of the Aussie dollar, which has been impacted by falling commodity prices which itself, is driven by recession concerns. It’s a quiet start to the week, with bond and equity markets closed in the US for Juneteenth.

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