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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.
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RBA Assistant Governor for Economics, Sarah Hunter, spoke today on the labour market, highlighting the central bank's surprise at the resilience of hours worked, underemployment, and the participation rate. She noted that while the labour market is tighter than full employment estimates suggest, it is gradually moving toward that level.
- Her assessment aligns with the RBA's prolonged policy hold.
- However, markets are still pricing in 16bps of rate cuts by year-end, with an additional 42bps expected by March 2025.
Figure 1: Official Rate: Current Vs. Year-End Market Expectations
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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