Market WATCh Weekly 16 December 2022

Market WATCh Weekly 16 December 2022

November 16, 2022

In Australia, consumer confidence picked up in December, but remains depressed. Business conditions continued to be strong in November, however business is less confident about the outlook. Employment saw another big increase in November.
Abroad, the FOMC raised US interest rates by a further 50bps in December and participants at the meeting revised up their expectations for rate hikes in 2023. The ECB and the Bank of England were among a number of other central banks that also hiked rates. Data-wise, Chinese economic data was weaker than expected in November, US inflation eased a little, retail sales and industrial production fell.

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