RBA Closer to Point When Rate Pause ‘Appropriate,' Lowe Says [BNN Bloomberg (Canada)]
Lowe's Companies, Inc. (LOW)
Last lowe's companies, inc. earnings: 2/26 06:00 am
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Source: BNN Bloomberg
“With monetary policy now in restrictive territory, we are closer to the point where it will be appropriate to pause interest rate increases to allow more time to assess the state of the economy,” Lowe said in a speech in Sydney Wednesday. “At what point it will be appropriate to pause will be determined by the data and our assessment of the outlook.” The governor's remarks sent the currency and government bond yields lower, with the 10-year yield dropping as much as 7 basis points to 3.62%. Traders are now betting there's about a 50% chance of a pause in tightening next month. The Reserve Bank is waging its most aggressive campaign against inflation in a generation, having hiked by 3.5 percentage points from a record low 0.1% in May. Money markets are pricing in a peak rate of 4% this year, suggesting at least one more quarter-point hike to come. Lowe's more measured tone contrasts with Federal Reserve Chair Jerome Powell, who overnight opened the door to raising rates higher
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