Market WATCh Weekly 22 July 2022

Market WATCh Weekly 22 July 2022

July 22, 2022

In Australia, the RBA minutes released this week were perceived as hawkish, while the RBA governor and deputy governor confirmed further interest rate hikes going forward. Internet job vacancies climbed to the highest level since 2008. ANZ consumer confidence remained depressed, while consumer inflation expectations declined but are still elevated. Offshore, the ECB increased its key interest rates by 50bps, including raising the deposit rate to 0.00%, and announced another facility aimed to prevent the fragmentation of euro area bond markets. The US housing market data deteriorated further. The Kiwi annual inflation rate rose to the highest level since 1990 in Q2.

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