Crisis? What crisis?

Friday 17th March 2023

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Whilst money is being poured in to solve liquidity issues at Credit Suisse, the ECB has been keen to stay on track with a 50bp rate hike yesterday. It’s been suggested that anything less would have been seen as a sign of bigger troubles and spread panic in a nervous market. Hence, bond yields and equities have come bouncing back overnight. But NAB’s Ray Attrill says markets are less sure of a rate hike from the RBA next month, even though Australia reported a strong increase in employment yesterday and an unexpected fall in the unemployment rate.

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