NAB Morning Call Inflation, inflation, inflation. It’ll pass says ECB, again.
Oct 28, 2021
14:38
Friday 29th October 2021Three year bond yields rose well above the RBA’s target of 0.1 percent yesterday, but the central bank didn’t buy any up as part of its yield control. That pushed yields even higher. So will they react today? NAB’s David de Garis doesn’t think the bank will ditch yield control, but it’ll make next week’s policy meeting that much more interesting. Christine Lagarde said there was a lot of soul searching at yesterday’s ECB meeting, where the discussion was all about "inflation, inflation, inflation". In the end they reaffirmed that inflation was a transitory issue and there was no need for the bank to react. Yet Germany and Spain reported the highest inflation rates in decades. Are they doing the right thing? Meanwhile, equites are existing in a different world, rising still higher on the back of strong earnings results. And Facebook is changing its name. Listen in for more details.
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