Viresh Kanabar, an investment strategist with 8+ years of experience, notably contributed to portfolio construction and risk management at CCLA Investment Management, a £12 billion fund. Viresh was also a voting member of the Investment Committee and ran the private asset valuation process. Before his role at CCLA, Viresh made significant contributions during his three-year tenure as a Consultant at Deloitte, where he was a part of the largest P&C merger in 2016.
FX | Rates
Viresh Kanabar
Summary The BoC cut 25bp as expected, while ending QT. The reduction in 2025 GDP growth forecast is not dovish as the BoC reduced its assumption for potential growth. Importantly, the bank’s estimate of the output gap narrowed to -0.75% from -1.25%. This implies there is less economic slack than previously thought. Despite stronger consumer […]
Viresh Kanabar
Summary We expect the BoC to cut its policy rate by 25 bps tomorrow. Despite a bearish consensus, we don’t see a further reduction in growth forecasts but appreciate the risks to the downside. That’s because we see green shoots in activity, hiring, and investment. Expect Gov Macklem to continue pushing the case for slower […]
Viresh Kanabar
Summary Recent developments including Japan’s Q3 GDP data, the October inflation report, and Rengo’s wage demand support the BoJ’s FY 2024 outlook. The LDP announced measures to support the economy, including further cash transfers to low-income workers and raising the income tax threshold. Taken with the recent data, it poses the question: why wait for […]
Viresh Kanabar
Summary The BoJ kept its policy rate unchanged as expected, reaffirming its July forecast. During his presser, Governor Ueda distanced himself from the previous ‘time to spare’ narrative, leaving the door open for a December rate hike. We watch for further yen weakness and subsequent BoJ speeches guiding towards a December rate hike. Market Implications […]
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