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Mar 28 - 09:55 AM

G10: A Modified Misery Index For G10 Economies; What's The Trade? - BofA

By eFXdata  —  Mar 28 - 09:30 AM

Bank of America Global Research discusses its modified misery index which shows the extent to which G10 central banks need to change policies and in which direction.

"We calculate a modified misery index to assess the extent to which G10 central banks need to change their monetary policies and in which direction. We focus on the deviation of core inflation from the 2% target and of unemployment from pre-Covid levels," BofA notes. 

"Assuming central banks prefer a low misery index and will guide their policies accordingly, our results point to upside for USD, GBP and CAD vs. JPY, and upside for EURCHF, AUDNZD and NOKSEK," BofA adds. 

Source:
BofA Global Research

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