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US Stock Futures Look to Test Week's Lows Ahead of NY Open

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  • Bank concedes that inflation is developing "substantially above forecast", upgrading their view to 7.4-7.9% at year-end.
  • The balance of risks for inflation is markedly tilted to the upside. The bank added the term 'markedly' from the early-September statement.
  • CBR retained the communication that the bank are open to the "prospect of further key rate rises at its upcoming meetings". They also kept their language around inflation forecasts unchanged, seeing annual inflation "edge down to 4.0–4.5% in 2022 and will remain close to 4% further on"