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A$ Firms, OIS Higher, As RBA Doesn't Rule Out Further Hikes

RBA

As expected, the RBA board left rates unchanged at 4.35%. The statement noted that further hikes in the rate can't be ruled out, and that the board will do what is necessary to bring inflation back to target. The path of rates depends on the data and risks though. More details to follow.

  • AUD/USD is firmer post the RBA headlines crossing. From around 0.6490, we last tracked in the 0.6500/05 region (post RBA highs were at 0.6508).
  • In rates space, OIS 6-8bps is firmer for meetings beyond May. YM is 5bps weaker.

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