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STIR: RBA Dated OIS Remain Softer Than Yesterday’s Pre-Q4 CPI Levels

STIR
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RBA-dated OIS pricing remains 3-8bps softer than yesterday’s pre-CPI levels across meetings after yesterday’s FOMC decision. 

  • Federal Reserve officials need to see more improvement in inflation or additional weakness in the labour market before cutting interest rates further, Fed Chair Jerome Powell said Wednesday. At the same time, Powell indicated monetary policy is still quite restrictive, suggesting he sees room for further policy easing ahead.
  • A 25bp rate cut is more than fully priced for April (132%), 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 remains 3-8bps softer than yesterday’s pre-CPI levels across meetings after yesterday’s FOMC decision. 

  • Federal Reserve officials need to see more improvement in inflation or additional weakness in the labour market before cutting interest rates further, Fed Chair Jerome Powell said Wednesday. At the same time, Powell indicated monetary policy is still quite restrictive, suggesting he sees room for further policy easing ahead.
  • A 25bp rate cut is more than fully priced for April (132%), with the probability of a February cut at 90% (based on an effective cash rate of 4.34%). 

 

Keep reading...Show less