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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
STIR
Today, the local calendar sees the Q4 CPI print. This will be a crucial input into next week's RBA meeting deliberations. Bloomberg consensus expects headline CPI to print +0.8% q/q and 4.3% y/y versus +1.2% and 5.4% prior. Trimmed Mean CPI is expected to show +0.9% q/q and 4.3% y/y versus +1.2% and 5.2% prior.
- Most trimmed mean forecasts are around 0.8-0.9%/4.2-4.4%. The full range is between 0.8% and 1.2% q/q and 4.1-4.7% y/y. NAB expects 0.8/4.2%, CBA 0.9/4.3% and ANZ & Westpac 0.9/4.4%.
- RBA-dated OIS pricing is slightly softer across meetings, with a cumulative 44bps of easing priced by year-end.
Figure 1: RBA-Dated OIS – Today Vs. Yesterday
Source: Bloomberg / MNI - Market News
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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