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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.
EXECUTIVE SUMMARY
- The RBA delivered a larger than consensus 25bp hike, accompanied by a sharp move higher in its projected inflation track. The Bank flagged more notable wage growth unearthed via its liaison scheme, after Q122 CPI data provided clear signals re: strengthening upward price pressures, pushing the RBA into action ahead of the Q122 WPI print.
- RBA reference points re: the cash rate were still more modest than market expectations, with further cash rate tightening priced in post-decision.
- Most of the sell-side have discussed the possibility of a 40bp rate hike in June, which would remove the entirety of the emergency rate cuts delivered in March 2020.
- Click to view full review: MNI RBA Review - May 2022.pdf
Fig. 1: The Evolution Of Cash Rate Expectations in ‘22
Source: MNI - Market News/Bloomberg
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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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