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MNI RBA Review - August 2022: 50 Delivered, No Pre-Set Path Ahead

EXECUTIVE SUMMARY

  • The RBA delivered the widely expected and largely priced 50bp hike at the end of it August meeting, although the formal introduction of some well-used phrases to the post-meeting statement left a dovish tinge to the post-meeting takeaway.
  • We continue to lean towards the idea of a 50bp rate hike in September which would get the Bank to just below its baseline assessment of neutral, but note that the language deployed today introduces dovish risks a little ahead of schedule.
  • The rough outline of the Bank’s updated economic projections failed to present much in the way of meaningful shocks.
  • Click to view full review: MNI RBA Review - August 2022.pdf
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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