MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI RBA Review - February 2023: +25bp, More Hikes On The Way

EXECUTIVE SUMMARY

  • The RBA hiked rates 25bp to 3.35%, as was widely expected. This brought the cash rate to above the mid-point of the central bank’s estimated range for neutral. The statement was more hawkish and made it clear that rates need to rise further and by more than 25bp, as inflation worries came to the fore.
  • A hike in March now seems a given but there is a question whether the Board will pause in April and hike again in May after the Q1 CPI data on April 26 or hike at both meetings bringing rates to 4.1%. An April break would require very clear communication that the cash rate has not yet reached its peak.
  • From the references in the meeting statement, it seems that the RBA's forecasts are broadly unchanged compared to November. Inflation is expected to be "around 3%" in H1 2025 but there was no mention of the trimmed mean or wages projections, which will be included in Friday's Statement on Monetary Policy.

Click to view full review:

RBA Review - February 2023.pdf

Central Bank ReviewHomepageRBA -ReviewCentral Bank ReportsMarkets

To read the full story

Close

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.