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NatWest: CPI Could Warrant Statement Tweak

FED

NatWest takes a similar view to MNI's on a potential change in Fed guidance in a post-CPI data note:

  • "We now think officials could alter that language by replacing "ongoing" with "additional" so that the line says "additional increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time." That isn't a dramatic change in the big picture, but would be viewed as a less hawkish tilt relative to the November statement "

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