The Australian share market is set for falls as investors expect three of the world's major central banks to hike rates steeply later this week. Follow live.
This week is a massive one for the world's most important central banks, with theAll three are widely expected to raise rates in lock-step, by half a percentage point.its two-day meeting concluding on Wednesday, which is early Thursday morning in Australia93 per cent probability on a half a percentage point increaseUS Fed funds rate to 4.25-4.5 per centNAB's head of market economics Tapas Strickland said a slightly hotter than expected 0.
4 per cent rise in core producer prices for the previous month has traders on edge that the Fed might go harder for longer on rate rises."The print will also validate chair Powell's recent speech that while the October inflation numbers were encouraging, it will take substantially more progress to bring inflation down."With PPI printing a little hotter, attention now turns to the CPI data on Tuesday, ahead of the FOMC decision on Wednesday.
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