Tuesday 7th February 2023

NAB Markets Research Disclaimer 

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Markets have had a chance to digest last Friday’s US jobs numbers and are clearly expecting a more hawkish stance by the Fed. JBWere’s Sally Auld talks about the potential for a higher terminal rate from the Fed and a more aggressive stance by the RBA. The expectation is that today they will lift rates by 25 basis points, but there’s the outside chance they will go further and a reduced chance of them pausing after this meeting. Tomorrow morning the Fed’s Jerome Powell is talking and its unlikely he’ll do much to soften the market’s stance. 

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