cover of episode UBS On-Air: Paul Donovan Daily Audio 'Hawk to dove in under a week'

UBS On-Air: Paul Donovan Daily Audio 'Hawk to dove in under a week'

2024/8/7
logo of podcast UBS On-Air: Market Moves

UBS On-Air: Market Moves

Frequently requested episodes will be transcribed first

Shownotes Transcript

Bank of Japan Governor Uchida indicated that there would be a pause in interest rate hikes in the wake of the strong financial market reactions. Central banks are not supposed to create disorderly markets, so this is not necessarily surprising (the last rate hike will not be reversed). The political pressure on the BoJ to raise rates was not properly backed by economic fundamentals—there is a lesson there for all central banks.