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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
STIR
STIR markets in the $-bloc continue to anticipate an easing cycle in 2024, albeit with significantly reduced expectations relative to late January.
- The trimming of year-end easing projections gained momentum earlier in the week after unexpectedly high US CPI for January.
- Relative to early February, official rate expectations for December 2024 currently sit 25bps (Australia) to 47bps (NZ) higher across the $-bloc. They were another 10-15bps higher on Wednesday versus today.
- December 2024 expectations and the cumulative easing across the $-bloc stand at: 4.44%, -89bps (FOMC); 4.32%, -68bps (BOC); 3.88%, -44bps (RBA); and 5.15%, -48bps (RBNZ).
Figure 1: $-Bloc STIR
Source: MNI – Market News / Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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