November 04, 2024 04:37 GMT
STIR: RBA OIS Softer Today But Little Chance Of Action Tomorrow
STIR
STIR: RBA Dated OIS Softer Today But Little Chance Of Action Tomorrow
RBA-dated OIS pricing has softened by 2-3bps across the 2025 meetings today.
- Today’s adjustments bring the pricing for 2025 meetings to just 1-5bps above pre-CPI levels from last Wednesday.
- Despite this, the market continues to price in a cumulative 3bps of easing by year-end, with a 7% probability assigned to a 25bp rate cut at tomorrow’s meeting.
Figure 1: RBA-Dated OIS – Today Vs. Pre-CPI
Source: MNI – Market News / Bloomberg
Keep reading...Show less
83 words