Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
It seems that the RBA won't settle for anything less than a recession to state conclusively 'job done'. Will another rate rise (or more) really savage equities just as they're finally breaking out of being range-bound?
Hi David,
A very timely question after US stocks plunged on Thursday & Friday night following ignited fears over a possible recession and the notion that the Fed could have been too late to start cutting interest rates. Initial jobless claims rose the most since August 2023 on Thursday, the ISM manufacturing index, a barometer of factory activity in the U.S., came in at 46.8%, worse than expected and a signal of economic contraction, while on Friday, the unemployment ticked up for a fourth straight month to 4.3%.
MM doesn’t believe a rate hike is on the table after this week’s soft CPI but we have said over recent weeks that a possible recession is not getting enough airplay. We now believe the RBA should cut rates.
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