March 12, 2025 22:45 GMT
STIR: RBA Dated OIS Pricing Firmer Today But Mixed Vs. Pre-RBA Decision Levels
STIR
RBA-dated OIS pricing is 1-4bps firmer across meetings today.
- Nevertheless, pricing still remains mixed compared to February’s pre-RBA Decision levels—meetings through July are flat to 4bps firmer, while those beyond are 4-14bps softer. February 26 meeting pricing is currently 6bps firmer than levels seen early on Tuesday.
- A 25bp rate cut in April is given a 6% probability, with a cumulative 63bps of easing priced by year-end (based on an effective cash rate of 4.09%).
Figure 1: RBA-Dated OIS – Today Vs. Pre-RBA Levels

Source: MNI – Market News / Bloomberg
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