TLDR: The Bank of England jumped on the 75 basis point rate hike bandwagon last night. Our Reserve Bank looks set to do the same on November 23. But they and others might be overdoing it, which would make the next couple of years tougher than they need to be.
The trouble is central bankers are still looking over their shoulders and at the crowds demanding they win back their inflation-fighting cred, rather than over the horizon where today’s rate hikes actually take effect.
Elsewhere in the news here and overseas this morning:
Imran Khan was shot in the leg in an apparent assassination attempt;
2degrees is entering the electricity market and wants big telco-style reforms to the market; and,
A poll shows National is set to win the Hamilton West by-election on December 10.
Coming up later today, I’ll invite paying subscribers to my weekly Ask Me Anything session for an hour at midday and we have our weekly ‘hoon’ webinar for paying subscribers at 5pm. I’d welcome your suggestions for topics and guests in the comments below.
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