The Weekly Macro Outlook

Key events for the week ahead – Global PMIs for Jul, BoE and RBA decisions, and US non-farm payrolls The FOMC raised the FFR target by 75bps to 2.25%-2.5%. The FOMC has followed its plan to increase rates ‘expeditiously’ to the 'neutral' rate. In a highly contentious...

Key events for the week ahead – FOMC monetary policy decision, US and Euro area Q2 GDP growth, and inflation data Recap from last week There were several notable parts of the ECB decision last week. The ECB increased its key interest rates more than expected by 50bps,...

Key events for the week ahead – ECB & BoJ policy decisions, RBA Minutes, inflation reports, and prelim PMIs for July Recap from last week US CPI accelerated more than expected to +9.1% for Jun. Fed speeches and market reactions indicate that at least another 75bps...

Key events for the week ahead – US CPI & retail sales, RBNZ & BoC policy decisions, and US Q2 earnings Recap from last week The pace of inflation, the strength of the labour market, and growth remain key barometers for central banks in this tightening cycle....

Key events for the week ahead – US non-farm payrolls, FOMC & ECB minutes, RBA policy decision Recap from last week At the ECB Forum at Sintra last week, central bankers agreed that we aren’t returning to a ‘lowflation’ world. While Inflation may come down from...

Key events for the week ahead – US PCE inflation, Eurozone inflation, ECB Forum on Central Banking Recap from last week An increasingly hawkish Fed has raised the risk of a recession, or at least, reduced the chances of a soft landing on a narrow landing strip. In...

Key events for the week ahead – CPI reports (UK, Japan, and Canada), Chair Powell testimony, and prelim PMIs for June Recap from last week Higher than expected CPI and inflation expectations readings from the University of Michigan survey prompted the FOMC to...

Key events for the week ahead – Central bank decisions; FOMC, BoE, BoJ, and SNB, US retail sales, and ongoing geopolitical risk Recap from last week Last week, the RBA surprised markets, and the broader community, with a 50bps rate hike and signaled “doing what is...

Key events for the week ahead – RBA and ECB policy decisions, US inflation, and ongoing geopolitical risk The RBA will meet on monetary policy early this week. Another 25bps increase in the cash rate target is expected, with a chance for a 40bps increase. The last...

Key themes for the week ahead – global growth momentum, US PCE inflation, FOMC minutes, RBNZ, and ongoing geopolitical risk Recap from last week There was a hawkish tone from Fed Chair Powell last week. The FOMC needs to see inflation come down in a “clear and...