{"id":66695,"date":"2023-07-18T10:51:05","date_gmt":"2023-07-18T07:51:05","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=66695"},"modified":"2024-08-26T12:08:29","modified_gmt":"2024-08-26T09:08:29","slug":"rba-meeting-minutes-hint-that-the-bank-may-continue-hiking-interest-rates","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/pt\/rba-meeting-minutes-hint-that-the-bank-may-continue-hiking-interest-rates\/","title":{"rendered":"RBA meeting minutes hint that the bank may continue hiking interest rates."},"content":{"rendered":"

The RBA July meeting minutes, clearly hint that the bank is considering further rates hikes, as it was stated that \u201cinflationary pressures may be more persistent than previously expected, further policy rate increases by several central banks, and central banks\u2019 communication that further tightening is likely to be required\u201d. Indicative, that the bank still has concerns about \u201cthe continued tight labor market reflected the usual lags from activity to labor market outcomes\u201d. Canada\u2019s CPI rates are due to be released later today, with market analysts expecting an alleviation of inflationary pressures on the Canadian economy. In the event that the CPI rates come in higher than expected, we may see the Loonie gaining ground against the dollar, as it would imply that the BoC may still have some way to go, in reducing inflationary pressures, thus opening the door for future rate hikes. In the commodities market, we note that Russia yesterday did not extend the UN-brokered grain deal, that saw Ukrainian grain continue to flow into global markets. Therefore, should the deal not be renewed for a prolonged period of time, we may see the price of Wheat increasing, as supply is gradually reduced, combined with recent extreme weather phenomena affecting grain producers, which could potentially result in volatile price swings over the coming months. In the US markets, we note the highly anticipated US retail sales rates which are due to be released later on during the day, with market analysts anticipating the rate to tick up. Thus, should the anticipated rates be materialized, we may see the greenback gaining ground, as it could provide some breathing room for the Fed, should they wish to continue on their aggressive interest rate hiking path. In the US Equities markets, we note that Morgan Stanley (#MS) and LockheedMartin (#LockheedMT) are due to release their earnings results today, with both companies anticipated to beat last quarter\u2019s earnings per share and revenues.<\/p>\n\n\n\n

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