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.
Japan
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 […]
Viresh Kanabar
Summary The BoC wants strong growth to absorb labour market slack. However, Q3 GDP growth could be nearer 1.6%, while core inflation may also undershoot in both Q3 and Q4 by 10bps. The BoC will likely look through October’s unemployment report given the hiring outlook remains weak. Market Implications We expect the BoC to cut […]
Viresh Kanabar
Summary Friday’s headline employment data was strong, adding 47k jobs of which 112k were full-time. The unemployment rate unexpectedly declined to 6.5% as the labour force participation rate fell further to 64.9%. Meanwhile the BoC’s Business Outlook Survey showed signs of a recovery, but demand remains weak. Finally, inflation expectations continued to decline, while hiring […]
Viresh Kanabar, Ben Ford
Summary Core and services inflation rose to 3.6% YoY and 5.6% in August. And while core now sits above BoE forecasts (3.4%), services inflation remains below. Meanwhile, wage growth is decelerating too slowly to force the BoE into a September rate cut. Assuming the BoE maintains a monthly pace of £100bn for balance sheet reduction, […]
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