He said that the FOMC sees 50bps hikes on the table for the next couple of meetings. The messaging reinforced market expectations that the Fed would front-load the tightening cycle with 50bps hikes. The market has priced a series of 50bps hikes over coming meetings. Some on MPS worry that the cost of living crisis could drive the economy into recession, and the case for further rate hikes need to be judged in that context. Events Round-UpNZ: Unemployment rate (%), Q1: 3.2 vs. 3.2 exp.

Source: New Zealand Herald May 04, 2022 21:20 UTC