Fed’s turbo taper and dots surprise

Thursday 16th December 2021The Fed, not surprisingly, are tapering faster as the race is on to lift rates next year. NAB’s David de Garis says the QE ending by March clears the decks, with a revised inflation forecast speeding up the expectations of rises. Markets were expecting a hawkish tilt, so they haven’t been surprised. The Bank of England decision is less easy to read later on, with Britain’s high inflation number overnight offset by the highest number of daily COVID infections since the pandemic began. The ECB follows shortly after that, in a busy day which also sees PMIs across the globe and Aussie employment numbers.

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