Daily Alert – Tuesday 2nd November 2021: RBA abandons yield-curve control
Good morning traders.
Yesterday saw indecisive risk sentiment. There was little movement in prices.
Early this morning the Reserve Bank of Australia dumped its yield-curve control programme (as they cannot keep the rate where they want it) and said interest rates could be hiked earlier than previously stated. This is hawkish and another central bank recognising that inflation might be a knottier problem than previously thought.
The Bank of Japan Monetary Policy Meeting Minutes held no surprises, which is no surprise.
It may stay quiet in the run up to the Fed on Wednesday. It often does. There’s little on the calendar to move markets before that.
As always, I go into more detail in today’s video.
We’ll be back tomorrow.
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