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STIR: RBA Dated OIS Firmer Today But Still Softer Than Pre-CPI

STIR
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RBA-dated OIS pricing is flat to 2bps firmer across meetings today but remains 2-4bps softer compared to pre-CPI levels from yesterday. 

  • A 25bp rate cut is more than fully priced for April (120%), with the probability of a February cut rising to 73% (based on an effective cash rate of 4.34%).
  • Prior to the data, the likelihood of a 25bp cut in April had eased to 108% (27bps), while the February cut probability stood at 65%.
  • For context, 32bps of easing was priced for April just a week ago.

 

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RBA-dated OIS pricing is flat to 2bps firmer across meetings today but remains 2-4bps softer compared to pre-CPI levels from yesterday. 

  • A 25bp rate cut is more than fully priced for April (120%), with the probability of a February cut rising to 73% (based on an effective cash rate of 4.34%).
  • Prior to the data, the likelihood of a 25bp cut in April had eased to 108% (27bps), while the February cut probability stood at 65%.
  • For context, 32bps of easing was priced for April just a week ago.

 

Keep reading...Show less