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STIR: RBA Dated OIS Pricing Adds To Post-CPI Softening

STIR

RBA-dated OIS pricing is flat to 3bps softer across meetings today. 

  • Additionally, pricing is 4-13bps softer across meetings compared to pre-Q4 CPI levels on 24 January, with the August meeting showing the largest decline.
  • A 25bp rate cut is more than fully priced for April (136%), with the probability of a February cut at 90% (based on an effective cash rate of 4.34%).  

 

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RBA-dated OIS pricing is flat to 3bps softer across meetings today. 

  • Additionally, pricing is 4-13bps softer across meetings compared to pre-Q4 CPI levels on 24 January, with the August meeting showing the largest decline.
  • A 25bp rate cut is more than fully priced for April (136%), with the probability of a February cut at 90% (based on an effective cash rate of 4.34%).  

 

Keep reading...Show less