Morning Bid: Reserve Bank of Australia governor Philip Lowe stood firm against markets pricing several interest rate rises this year, showing he was adamant that rates would not rise until inflation is 'sustainably' within the target range
against markets pricing several interest rate rises this year, showing he was adamant that rates would not rise until inflation is "sustainably" within the target range.Register now for FREE unlimited access to Reuters.comwill raise interest rates by 10 basis points, almost three times this year. Bets are starting to be placed in fact on a July move as well.
To quote ECB boss Christine Lagarde, a 2022 rate rise does seem "very unlikely". That's what she said last month but since then, she will have watched robust Q4 economic readings trickle in, includingChances are euro area price growth will overrun the ECB's 3.2% average forecast for this year.
If jobs data later on Tuesday shows wage pressures on the rise, Lagarde will, like Lowe, find herself battling markets at the Feb. 3 ECB meeting. Meanwhile, is it time to call time on the equity selloff? On the last day of January, global stocks managed a 1.7% rebound, led by a 3.5% jump in the Nasdaq.
For now, a firmer session appears to lie ahead. In Europe, good news continues to trickle in on the earnings front, withKey developments that should provide more direction to markets on Tuesday:-Russia’s Vladimir Putin meets Hungary’s Victor Orban
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