Australian shares are set to open higher, lifted by further gains in New York. Meta, Apple, Alphabet to report. Focus on US policymakers.
RBA policymakers are set to meet on February 7. This week however the focus is overseas with the Federal Reserve, Bank of England and European Central Bank.
Fed statement at 6am AEDT on Thursday. The BoE will publish its decision at 11pm AEDT on Thursday. The ECB’s decision will be at 12.15am AEDT on Friday.Fed: “We expect the FOMC to deliver a 25bp rate increase..., lifting rates to 4.50%-4.75%, with the move representing a second consecutive downshift in the Fed’s hiking pace.
BoE: “This is likely the last 50bps hike of the cycle, with a clear signal that the MPC is gearing down to 25bps hikes as it nears terminal. Guidance is likely to be tweaked to remove ‘respond forcefully’, but the MPC is likely to reinforce market pricing. If we’re wrong on a 50bps hike, a 25bps hike would likely be accompanied by a very persistent tone, like the Fed in December.”
ECB: “There have been essentially no comments from ECB officials or data that might steer the ECB away from what should be a straightforward 50bps hike. However, there is room for things to get interesting during the press conference, and here we think [president Christine] Lagarde will sound more hawkish than expected and repeat her earlier guidance of possibly further 50bps hikes in March and May.
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