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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
RBA-dated OIS pricing has shown minimal movement across meetings today ahead of tomorrow’s RBA Policy Decision.
- Despite this stability, the market still reflects expectations of a total easing of 35bps by year-end. This projection has, however, been reduced from nearly 50bps of anticipated easing recorded just a week ago.
- The shift follows a notable recalibration of easing expectations for the FOMC during the same period. This adjustment was prompted by the unexpectedly high February US CPI and PPI data.
- In line with the unanimous consensus among Bloomberg analysts expecting a status quo decision, the current market sentiment suggests a 0% probability of a 25bp hike or cut occurring tomorrow.
Figure 1: RBA-Dated OIS Expected End-24 Easing Expectations Versus Cash Rate
Source: MNI – Market News / Bloomberg
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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