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From the floor: tapering ahead?

Staff reporter

Published May 24, 2021

The timing of the “inevitable” reduction of the US Federal Reserve’s asset buying is still unclear, according to ANZ Economist Adelaide Timbrell, in the wake of the minutes of the Fed’s latest meeting.

Speaking at an ANZ briefing, Timbrell said the timing of the long-expected ‘taper’ was still “really uncertain”, but the Fed had signalled future discussion about tapering in the minutes.

ANZ Research does not expect to see “any cash-rate hike soon, because they do have some tapering to do before that”, she said.

“Even though this is something considered pretty inevitable in the economic landscape that we're in, there might still be some market volatility in parts of the market still pretty drunk on that hyper easy monetary policy,” Timbrell said.

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Timbrell said growth in the broader US economy continues to be “pretty strong”, noting recent record-high readings in manufacturing and services indexes.

“Price and demand is strong, but is not quite there yet, she said.

Conditions in Europe are quite similar to the US.

“We're seeing really strong lift [in the Europe area], particularly in services,” she said.  “That's due to the improving vaccination program and also a gradual lift in [pandemic-related] restrictions.

From the floor: tapering ahead?
ANZ Insights
Staff reporter

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