Daily Alert: Markets take 75bp FOMC hike in their stride

  • The FOMC deliver a front-loaded 75bp hike, the largest since 1994, taking the Federal Funds rate to 1.50-1.75%
  • The FOMC dot plots signalled a total of 325bps of hikes for 2022, implying a further 175bps of hikes for the remainder of the year. Market reaction was modest
  • NZ Q1 GDP and Australian employment data and the BOE rates decision cap off a busy 24 hours ahead

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