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Rupiah Goes Offered Amid Omicron Worry


Battle Lines Drawn Ahead Of NFPs

RBNZ: VIEW: J.P.Morgan note that "GDP growth has slowed while mortgage spreads
are wider and the exchange rate is higher than after the 50bp cut in August. But
the global central bank impulse to ease has moderated, and this significantly
reduces near-term pressure to act. We have pushed out our call for a February
rate cut in Australia, and this gives Governor Orr more space. It still seems
likely growth will keep falling short of what's required to deliver the dual
mandate, forcing the RBNZ back to action eventually. We are pushing out our call
for 25bp cuts in February and May, to August and November."
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |