Wednesday 20th March 2024

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With the RBA and bank of Japan out of the way, markets are readying themselves for the FOMC tomorrow, with yields drifting a little lower today in anticipation. NAB’s Ken Crompton says the RBA has removed its tightening bias – now, nothing is ruled out or in. The next move is expected to be down, but the question that remains is when? The bank of Japan lifted themselves out of negative interest rates, as expected, but Ken says they did a good job of dampening any expectations of a rigorous tightening cycle. Tomorrow, the FOMC meets, with the focus on the dots plot – how many and what will be the endpoint? 

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