MNI BRIEF: Japan Oct Core CPI Rises 2.3%, Services Rise

FED'S SCHMID - WE STILL HAVEN'T BEAT INFLATION BACK TO 2%

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

MNI China Daily Summary: Thursday, November 21

MNI BRIEF: China To Enhance Support For Foreign Trade - MOFCOM

MNI: UK NOV GFK CONSUMER CONFIDENCE INDEX -18

MNI JAPAN OCT CORE CPI +2.3% Y/Y; SEPT +2.4%

MNI: FED BALANCE SHEET TOTAL ASSETS -$43B TO $6.924T IN WEEK

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

UBS also push back first hike to next year

BOE
  • "Although the recent inflation and labour market data arguably support the case for a rate hike, the latest comments from some MPC members, in particular Michael Saunders (generally seen as a hawk), suggest that the MPC might prefer to wait for more clarity on Omicron."
  • "We think that the MPC would be in a better position to gauge the economic fallout from the new variant in the following meeting on 3 February."
  • "For the time being, we assume relatively mild economic fallout from Omicron, implying no new lockdowns, and hence expect the MPC will deliver a 15bps hike at its first 2022 meeting on 3 February"
  • UBS now see the "first 15bps hike on 3 February 2022, followed by two more 25bp hikes in May and November 2022 (and two more hikes in 2023)."
  • "If the health risks stemming from Omicron turn out to be severe, thus warranting tighter mobility restrictions or even another lockdown, inflation could thus be somewhat lower in the near term but decline more slowly in 2022... should a new lockdown be introduced in Q1, we would envisage the first hike being pushed further out into 2022."
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.