Energy prices rise further, central banks more hawkish - a podcast by Phil Dobbie

Tuesday 12th October 2021

Fuel prices are rising, with the gas crisis now pushing up oil and coal prices. On today’s podcast NAB’s Tapas Strickland says central banks are now worried about inflation getting “permanently embedded” (Andrew Bailey’s words) and are becoming more hawkish in their outlook. The latest is the Bank of England, where markets are already pricing in a 50 percent chance of a small increase as soon as next month. Bond yields continue to rise on this new attitude by central banks. Also today, does Australia need to reopen its borders to get the economy back on track? Can we fully recover without the return of a migrant workforce?

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