All signs point to slower growth and falling inflation

Thursday 7th December 2023NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABFalling inflation and lowering interest rates is definitely the consensus view now. It comes at the cost of weaker demand, evidenced by the continued drop in oil prices. NAB’s Ray Attrill says falling fuel costs are no doubt helping European equities, which finished higher today whilst US share indices struggled to get traction. Markets are now pricing in 150bp in cuts from the ECB next year, although Ray suggests that’s overly optimistic. Australia’s GDP growth was much slower than expected last quarter, but there’s not been a strong response to it on currency and bond markets. The consumer is still finding money to keep spending and productivity isn’t making the gains the RBA would like to see. Now the focus is on jobs, with the weekly US jobless claims tonight ahead of the monthly non-farm payrolls tomorrow. Hosted on Acast. See acast.com/privacy for more information.