February 05, 2025 22:32 GMT
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%).
Figure 1: RBA-Dated OIS – Today Vs. Pre-Q4 CPI
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Source: MNI – Market News / Bloomberg
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