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STIR: RBA Dated OIS Little Changed As Gov. Bullock Fronts Senate Committee

STIR
BulletMarketsFixed Income Bullets

RBA-dated OIS pricing is little changed today, as RBA Governor Bullock fronts the Senate Economics Committee.

  • Initial comments from RBA officials have focused on expected US and China fiscal stimulus measures: “Beijing stimulus plans are positive for China and Australia”; and “Higher US deficits in prospect, along with higher inflation and rates than otherwise.”
  • 2025 meeting pricing remains 2-5bps higher than pre-RBA levels on Tuesday.
  • Notably, pricing for 2025 meetings is also 4-11bps above pre-Q3 CPI levels (30 October).
  • No easing is priced for this year, with June 2025 being the first meeting where a 25bp rate cut is fully anticipated. 

 

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RBA-dated OIS pricing is little changed today, as RBA Governor Bullock fronts the Senate Economics Committee.

  • Initial comments from RBA officials have focused on expected US and China fiscal stimulus measures: “Beijing stimulus plans are positive for China and Australia”; and “Higher US deficits in prospect, along with higher inflation and rates than otherwise.”
  • 2025 meeting pricing remains 2-5bps higher than pre-RBA levels on Tuesday.
  • Notably, pricing for 2025 meetings is also 4-11bps above pre-Q3 CPI levels (30 October).
  • No easing is priced for this year, with June 2025 being the first meeting where a 25bp rate cut is fully anticipated. 

 

Keep reading...Show less