Excellent first post. Thank you! If the volatility of data is high, is this more like a 80/90s data cycle in terms of characteristics? Will market participants, who have become accustomed to a smooth data path, have to continually adjust expectations for the policy path or do you expect firmer policy guidance?
Excellent first post. Thank you! If the volatility of data is high, is this more like a 80/90s data cycle in terms of characteristics? Will market participants, who have become accustomed to a smooth data path, have to continually adjust expectations for the policy path or do you expect firmer policy guidance?
One would hope for firmer guidance but the Bank doesn’t look to be delivering does it?
It looks to me like the consensus view is getting buffeted around with the volatile monthly data.