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Metals Market Commentary: Bob Iaccino, 6/6/23
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We have been watching gold for signs that its current retracement may be coming to an end. It certainly looks like it is getting closer. Monday, saw gold pullback further to ...
Will the FOMC leave the fed funds target range unchanged at the conclusion of the June 13-14 meeting? Or will it opt for another increase of 25 basis points to reach the highest ...
Ecuador is to hold a mining referendum on the same day as the country’s general election on 20 August. The referendum announcement comes amid an ongoing dispute over mineral ...
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Thank you very much for the invitation to join Morgan Stanley’s Australian Summit. It is a pleasure to be able to join you. This morning, I would like to discuss the narrow path the Reserve Bank Board is seeking to navigate. That path is one where inflation returns to target within a reasonable timeframe, while the economy continues to grow and we hold on to as many of the gains in the labour market as we can. It is still possible to navigate this path and our ambition is to do so. But it is a narrow path and likely to be a bumpy one, with risks on both sides. Today, I would like to talk about the importance of the destination – that is, a sustainable return of inflation to target – and our strategy for getting there, including the decision yesterday to increase the cash rate again. I will then turn to some of the factors that the Board is considering as it navigates the path back to 2–3 per cent inflation. The return of inflation to target Recent inflation readings have been the highest for more than 30 years (Graph 1). The reasons for this are well known. They include supply-side disruptions caused by the pandemic, Russia’s invasion of Ukraine, and the large fiscal and monetary policy resp post at 7:20pm: *RBA’s Lowe: RBA on Alert to Risk Inflation Stays Too High, Too Long *RBA’s Lowe: Remain on Path to Soft Landing, but Significant Risks *RBA’s Lowe: Hikes Aim to Bring CPI Back to Target in Reasonable Time *RBA’s Lowe: Risks to Sustainable Wage Growth From Weak Productivity post at 7:20pm: RBA’s Lowe: Path Back to 2–3% Inflation is Likely to Involve a Couple of Years of Relatively Slow Growth RBA’s Lowe: Desire to Preserve Job Market Gains Does Not Mean Board Will Tolerate Higher Inflation Persisting post at 7:21pm: RBA’s Lowe: Too Early to Declare Victory in the Battle Against Inflation RBA’s Lowe: June Rate Rise Followed Information Suggesting Greater Upside Risks to Bank’s Inflation Outlook RBA’s Lowe: April CPI Reading Has Not Changed Assessment Inflation is Trending Lower
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- Posted: Jun 6, 2023 5:21pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 178