Market WATCh Weekly 23 September 2022

Market WATCh Weekly 23 September 2022

August 23, 2022

At home, the RBA minutes brought no major surprises but a review of the RBA’s bond purchase program showed that the financial cost to the Bank could be up to A$58b over the period to 2033. The flash composite PMI pointed to further slight expansion of the Australian economy in September. Offshore, the FOMC increased the fed funds rate by another 75bps, as expected, and revised its interest rate projections upwards. There were also significant interest rate increases by several other G10 central banks, with the notable exception of the Bank of Japan; although Japanese authorities intervened in the market to support the yen.

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